Tag: finance

Euler Finance to enter talks with exploiter over the return of funds

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Ethereum-based lending protocol Euler Finance could be a step closer to recovering funds stolen in a $196 million flash loan attack last week, with private discussions now initiated with the exploiter. In an on-chain message to Euler on March 20, days after sending funds to a red-flagged North Korean address, the exploiter claimed they now want to “come to an agreement” with Euler. “We want to make this easy on all those affected. No intention of keeping what is not ours. Setting up secure communication. Let us come to an agreement,”…

Hacker of Euler Finance Sends 100 ETH to a North Korean Address

As per blockchain intelligence firm Chainalysis, Euler Finance transferred a total of 100 ETH to an address having links to North Korea. Another major hack rocked the decentralized finance (DeFi) market last week in March. The attack on DeFi protocol Euler Finance drained a massive $197 million making it the biggest DeFi hack in 2023 so far. While tracking the details of the movement of hacked funds, it turns out that the hack could be linked to North Korea. Among the series of transfers made by the hacker, one transaction…

US Lawmaker Urges Government to Guarantee All Deposits to Avoid Runs on Smaller Banks – Finance Bitcoin News

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A U.S. congressman has urged the federal government to temporarily insure every bank deposit in the country. Following the collapses of several major banks, he stressed that if the government does not do this, there will be a run on smaller banks. “This is a contagion that could be spread across the entire banking system,” he warned. Lawmaker Warns of Runs on Smaller Banks U.S. Congressman Blaine Luetkemeyer (R-MO), a former banker and a member of the House Financial Services Committee, said last week that the government should temporarily insure…

Euler Finance hacker sends 100 ETH to red-flagged North Korean address

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Ever since Euler Finance fell victim to the biggest decentralized finance (DeFi) hack of 2023, the crypto community closely follows the $197 million loot on-chain — hoping to track down the attacker. Out of the series of transfers made by the hacker, one transaction of 100 Ether (ETH) was allegedly sent to an address associated with North Korea-linked actors. Blockchain investigator Chainalysis identified 100 ETH from Euler’s stolen funds was transferred to an address that was flagged in an older hack with links to North Korea. 100 ETH stolen in…

Euler Finance exploiter returns 3,000 ETH worth $5.4m

Euler Finance exploiter has returned 3,000 ETH worth $5.4m to the DeFi protocol, indicating the platform may have reached a deal with the hacker. Exploiter returns stolen Euler funds worth $5.4m The Euler Finance exploiter on Mar. 18 returned about 3,000 ETH ($5.4m) to the platform’s deployer address. Blockchain investigator PeckShield identified three transactions used to send funds. Euler Finance was hacked on Mar. 13 in a flash loan attack where the exploiter made away with $197m. The funds were stolen over four transactions of $136m staked ether (stETH), $34m USDC, $19m…

Euler Finance hacker starts returning stolen Ether

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The recent attack that drained $197 million from Euler Finance was dubbed the biggest decentralized finance (DeFi) hack of 2023 so far. However, this may not hold for much longer as the hacker reportedly had a change of heart. On March 18, roughly 3,000 Ether (ETH) ($5.4 million) were returned to Euler Finance’s deployer address from the Euler Finance hacker’s address. Blockchain investigator PeckShield identified three transactions that were used to send the funds. https://t.co/4OBksAu9od pic.twitter.com/Zb3MIyex2f — PeckShield Inc. (@peckshield) March 18, 2023 Cointelegraph confirmed that the hacker transferred 1,000…

Russian Parliament Votes on Bill Opening Door for Digital Ruble – Finance Bitcoin News

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Russian lawmakers have approved a draft law facilitating the implementation of the digital version of the national currency, the ruble. The legislation amends various other acts to introduce definitions and establish procedures related to the launch of the central bank digital currency. Russian State Duma Passes Digital Ruble Draft Law on First Reading The lower house of Russian parliament, the State Duma, has adopted in the first reading a bill introducing legislative changes necessary for the realization of the digital ruble project. Most notably, it seeks to amend the law…

DeFi sees its biggest hack in 2023 as Euler loses $197M: Finance Redefined

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Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. The DeFi ecosystem was once again an exploiter’s paradise this past week as lending protocol Euler Finance fell victim to a flash loan attack resulting in a net loss of over $196 million — the biggest hack of 2023 so far. Apart from the Euler Finance saga, USD Coin (USDC) depegging was the most significant event dominating last week’s headlines. Due to the collapse…

‘If a government bans drugs, it should also ban crypto’ — Belgium’s former finance minister

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Johan Van Overtveldt, a member of the European Parliament and the former Minister of Finance of Belgium, has called for a “strict ban” on crypto as a result of the current banking crisis. In a March 17 tweet, Overtveldt suggested lawmakers should consider banning cryptocurrencies as a “lesson” from the collapses of Silicon Valley Bank, Signature Bank and Silvergate Bank in the United States, referring to digital assets as “speculative poison.” Members of the European Parliament have been discussing the impact of the failure of these banks on markets in…

Collective Finance to Launch Its Public Tokens Sale on Binance Smart Chain

Participation in the Public sale is through the Collective Finance DApp and by navigating to the Presale Tab. Decentralized Finance (DeFi) protocol Collective Finance has announced plans to launch the public sale of its native token $CLF built on the Binance Smart Chain (BSC) network. As contained in a Press Release shared with Coinspeaker, the public token sale can be accessed with a 10% discount, setting a generally lowered barrier for more encompassing community participation. The Collective Finance protocol was designed as an innovative outfit that offers access and participation…