Michael Bentley’s revealing tweet ignited concerns surrounding the $6 million hack at Euler Labs, prompting an investigation into the incident and its implications for the DeFi community.
Euler Labs, a decentralized finance (DeFi) platform, made headlines recently when it fell victim to a devastating hack, resulting in a loss of $6 million. Michael Bentley’s tweet brought the issue to light, raising concerns among the DeFi community about the safety and security of the platform.
The hacker managed to exploit a vulnerability in the smart contract code of Euler Labs, leading to the theft.
Euler takes a big hit
The attacker utilized Tornado Cash, a non-custodial ethereum mixer, to launder 1,666.66 ETH (worth approximately $1.6 million) of the stolen funds. Tornado Cash enables users to maintain their privacy by obfuscating the transaction trail, making it difficult for authorities to track and recover the stolen assets.
This comes after Euler Labs fell victim to a
Go to Source to See Full Article
Author: Bralon Hill
Tip BTC Newswire with CryptocurrencyDonate Bitcoin to BTC Newswire
Donate Bitcoin Cash to BTC Newswire
Donate Ethereum to BTC Newswire
Donate Litecoin to BTC Newswire
Donate Monero to BTC Newswire
Donate ZCash to BTC Newswire
