Wallet tied to Euler DeFi protocol hack sends 100 ETH to North Korean hackers

The funds were transferred to the address of the Lazarus group involved in the attack on the Ronin sidechain

17.03.2023 - 09:30

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What’s new? Blockchain analysts at Lookonchain have reported that addresses associated with the recent exploit of the Euler Finance DeFi protocol and last year’s Ronin sidechain hack interacted. According to experts, a wallet controlled by Euler hackers sent 100 ETH (~$171 200) to an address tied to the Ronin attack. The latter, according to the US authorities, belongs to Lazarus Group, a hacker group from the DPRK.

Euler Finance Exploiter transferred 100 $ETH to Ronin Bridge Exploiter(stole 173,600 $ETH and 25.5M $USDC).Ronin Bridge Exploiter was listed by #OFAC as Lazarus Group – the North Korean state hacking group.Are the two hackers the same person or was it intentional? pic.twitter.com/aPzOkSlXb6
— Lookonchain (@lookonchain) March 17, 2023

What else is known about the hacks? After the attack on Ronin, the US Treasury Department put the wallet that held some of the stolen funds on the sanctions list, as well as the Blender.io crypto mixer that the hackers used to launder them. The incident was the largest in terms of damage in 2022.

Analysts estimate the damage from hacker attacks on crypto projects in 2022 at $3 billion

In total, Chainalysis counted 125 incidents related to attacks on crypto companies in 2022

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In September, the US authorities seized $30 million in cryptocurrency that was stolen from the sidechain. Chainalysis said that this refund is a record for law enforcement in the United States.

Euler suffered a flash loan attack on March 13, losing about $200 million. Hackers used code that allowed them to create an unsecured token debt position by donating funds to protocol reserves and then liquidating those accounts and profiting from liquidation bonuses. The team is working to recover the fundswith input from blockchain analysts, as well as the US and UK authorities.

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