Euler Finance Offers a Deal to Hackers to Stop Investigation

03/15/2023 14:32 • Tech Ticker • 148 views

On March 15th, the loan agreement Euler Finance continued to release information to hackers on the chain. Euler said that the simplest way is to return 90% of the DAI and ETH under your control to the EulerDAO vault address, and 10% as a white hat hacker reward. Then, the investigation will be stopped, and the focus can be shifted to distributing funds to the agreement users without resorting to legal channels.

Euler: If a hacker returns 90% of the stolen DAI and ETH, the remaining 10% can be used as a white hat hacker reward

Analysis based on this information:

Euler Finance announced on March 15th that they will offer a deal to hackers who have been able to gain control of a significant amount of DAI and ETH through their loan agreement. Euler Finance has been releasing information to hackers through the blockchain and now wants to stop the investigation by offering them a deal. According to Euler Finance, hackers can return 90% of the DAI and ETH under their control to the EulerDAO vault address, and 10% can be kept as a white hat hacker reward. The offer is aimed at shifting the focus from investigating the hack to distributing funds to the agreement users without involving legal channels.

The message implies that Euler Finance is aware of the hackers and is willing to cooperate with them to stop any further damage. By offering them a deal, Euler Finance aims to regain control of the hacked funds and compensate the users who have been affected by the hack. Euler Finance intends to distribute the recovered funds to the users without resorting to legal channels that can be costly and time-consuming. This approach could be seen as a win-win situation for both Euler Finance and the hackers since both parties would benefit from the deal.

Furthermore, Euler Finance’s message reveals the critical role of blockchain in providing transparency and accountability in financial transactions. The information released on the blockchain was accessible to the hackers, but it also helped Euler Finance to track and identify the stolen funds. This level of transparency would have been hard to achieve using conventional financial systems.

In conclusion, Euler Finance’s offer to hackers to stop the investigation and distribute the funds is a pragmatic approach to recover the lost funds and compensate the users. The use of blockchain has made it easier to track and identify the stolen funds, which is a testament to the efficiency and transparency of blockchain-based financial systems.

Overall, Euler Finance has set an example that companies should consider when dealing with cybersecurity breaches- cooperate with hackers to mitigate loss and compensate the affected stakeholders while avoiding the costly and time-consuming legal channels.

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Euler Finance Offers a Deal to Hackers to Stop Investigation

Euler: If a hacker returns 90% of the stolen DAI and ETH, the remaining 10% can be used as a white hat hacker reward

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