Euler Finance EUL crashes 48% following $197M hack

Euler Labs has been exploited for $177 million in 4 transactions, according to Blockchain protection firm BlockSec.

The wise agreement auditing company added that two more attack transactions took the total loss to $197 million.

According to a google document shared by the company, the malicious players stole $8.76 million really worth of DAI, $33.85 million USDC, 849 Wrapped Bitcoin (WBTC) worthy of $18.5 million, and 85,817 staked Ethereum  (stETH) value $135.8 million.

One more on-chain facts services company Arkham Intelligence corroborated BlockSec&#8217s acquiring.

The British isles-based firm confirmed that it was mindful of the exploit. It extra:

&#8220We are mindful and our crew is presently doing work with security specialists and legislation enforcement. We will release more information as quickly as we have it.&#8221

Adhering to the information, Euler Labs&#8217 EUL token has plunged by approximately 48% to 3.10, in accordance to CoinMarketCap information.

Euler Finance delivers on-chain lending companies and accomplished a $32 million funding spherical that included Coinbase and defunct crypto trade FTX in 2022.

The put up Euler Finance EUL crashes 48% next $197M hack appeared to start with on CryptoSlate.

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