Angle Protocol Addresses Post Euler Finance Hacker Attack

03/15/2023 10:50 • Metaverse Matters • 131 views

On March 15th, it was reported that the decentralized stable currency protocol, Angle Protocol, had prepared a detailed overview of the post Euler Finance hacker attack protocol based on the information on the chain. Among them, the affected USDCs were approximately $17.52 million, and the total value of the tokens held by the DAO (including agEUR) was approximately $19.59 million. The team is closely monitoring the situation and working with the authorities to provide all assistance it can provide to investigate the hacker attack, The update will be shared as soon as it is received.

Angle Protocol: The USDC affected by hacker attacks is approximately $17.52 million, and the DAO still holds nearly $20 million in tokens

Analysis based on this information:

The Angle Protocol, a decentralized stable currency protocol, has released a detailed overview of the post Euler Finance hacker attack protocol. The protocol is based on information gathered from the chain, which revealed that the hacker attack affected approximately $17.52 million worth of USDCs, along with a total value of approximately $19.59 million worth of tokens held by the DAO, including agEUR.

The team is closely monitoring the situation and working with authorities to provide all possible assistance in investigating the hacker attack. Any updates regarding the situation will be shared as soon as they are received.

In the world of cryptocurrencies, hacker attacks are not uncommon. Cryptocurrency owners and businesses are vulnerable to attacks by hackers who can steal digital coins, data, and other valuable assets. The Euler Finance hacker attack was a recent event that affected the Angle Protocol, which led to the loss of millions of dollars.

The Angle Protocol is aimed at creating stable currency protocol using a new mechanism for achieving stability based on algorithms and decentralized governance. The protocol eliminates the need for any central authority, instead utilizing multiple parties to achieve stability.

Given the importance of trust in the cryptocurrency sector, it is crucial to take prompt action in the wake of security breaches. The Angle Protocol team is taking the necessary steps to address the hacker attack and mitigate any potential risks in the future.

In conclusion, the Angle Protocol is working hard to recover from the Euler Finance hacker attack, which affected the DAO and USDC. While it takes time to establish a secure protocol and address risks, the attention of the Angle Protocol team to this issue is commendable. The cryptocurrency space continues to evolve, and it is likely that new security breaches will occur, but by working together and adopting robust security measures, we can help prevent and mitigate the risks.

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