Euler Finance to Negotiate with Exploiter Plans to Return the Stolen Assets

The UK-based lending platform Euler Finance has been holding private meetings with the exploiters who stole $196 million. The March 16 flash loan attack prompted the Euler team to develop strategies to recover the stolen amount that has started to bear fruits.

The exploiter returned $5.4 million of the stolen assets on March 18 a positive sign of the asset  recovery attempt. Later the hackers issued a report dated March 20 demanding a meeting with the Euler team.

Per the report, the exploiter wanted to return the remaining amount of the stolen assets under certain conditions.

Euler’s Exploiter Reveals Plans to Return Stolen Assets

The unexpected message from the exploiter proposed that the Euler team use a secure communication method such as on-chain messaging. As per data from Etherscan, the Euler team confirmed receiving the message and provided links where the exploiters can contact the troubled firm.

After the March 16 exploit, the Euler team issued a report demanding to negotiate with the exploiters. The team had urged the hackers to return 90% of the stolen asset within a day to be exempted from facing the legal process.

The 90% deal failed to yield results prompting the Euler team to launch a $1 million reward to recover the stolen assets.

Who was Involved in the Euler Attack?

Beyond this, the on-chain report from the exploiters has compelled the Euler and other forensic teams to team up and identify the suspect. After conducting a background check on the messages, the probing team argued that the exploit was executed by one person.

The current Euler attack speculation has created heated debates among the Euler stakeholders and investigators. On March 17, experts from Chainalysis suspected that the returned assets were wired through a digital wallet owned by a North Korean national.

Other investigators from the Chainalysis team argued that the three transactions completed by the hacker were a plot to mislead the probing team. Recently, the Euler team confirmed receiving multiple messages from anonymous revealing plans to assist the firm in recovering the stolen assets.

A report from an unknown research firm dated March 20 confirmed to have practical approaches to help Euler track down the stolen assets.

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