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Sandeep Kumar Mishra
Mar 18, 2023
by Sandeep Kumar Mishra

Euler Finance Hacked Despite 10 Audits in Two Years

Euler Finance Hacked
Ten separate audits conducted over a two-year period of the Ethereum-based lending protocol Euler Finance found that it was no more than low risk and had no outstanding issues before it was hacked, which led to the theft of $196 million. 

Hallborn And Other Blockchain Security Firms Conducted the Audits Before Euler Finance Was Hacked

Blockchain security firms such as Halborn, Solidified, ZK Labs, Certora, Sherlock, and Omnisica conducted Euler Finance smart contract audits from May 2021 to September 2022.

Halborn made its risk assessments by weighing the probability of a security event and its impact with risk levels ranging from very low and informative to critical.

Euler Labs CEO Will Never “Forgive the Attacker”

In his recent Twitter thread, Bentley said he’d never “forgive the attacker” as he was forced to “sacrifice time” with his newborn son due to the attack but thanked security experts who are “working on leads” for the investigation.

Euler issued a warning just 24 hours before the bounty, warning that if 90% was not returned within 24 hours, it would launch a bounty "that leads to your arrest and the return of all funds."

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Euler Finance Hack
Euler Finance Hacked Despite 10 Audits in Two Years
Sandeep Kumar Mishra
Sandeep is an avid cryptocurrency enthusiast and a keen & passionate blogger. He has a strong mix of skills in the areas of computer networking, cryptography, algorithms, and data structures and specializes in ERC20 tokens. Lately, he is taking a lot of interest in blockchain-powered AI solutions, about which he is also reading and writing extensively. He has to his name dozens of deeply researched articles about cryptocurrencies, blockchain, AI, and IoT. Apart from that, he loves to keep track of the latest trends in social media and digital marketing space. Also, as a huge proponent of blockchain and cryptocurrencies, Sandeep tries to deliver all the latest cryptocurrency news to ardent crypto supporters like yourselves. If you like his content, feel free to follow him on LinkedIn.

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