Euler Finance EUL Plummets 48% Following $197M Hack

13. März 2023

• Euler Labs experienced a security breach resulting in the loss of $197 million worth of cryptocurrency.
• The malicious actors stole 8.76 million DAI, 33.85 million USDC, 849 WBTC and 85,817 stETH.
• Following the news, Euler Labs‘ EUL token has plummeted 48%.

Euler Finance Hacked for $197M

Euler Labs has been exploited for $177 million in four transactions according to Blockchain security firm BlockSec. Two more attack transactions took the total loss to $197 million. This included 8.76 million DAI, 33.85 million USDC, 849 Wrapped Bitcoin (WBTC) worth $18.5 million and 85,817 staked Ethereum (stETH) worth $135.8 million as confirmed by Arkham Intelligence who corroborated BlockSec’s findings.

Euler Finance Response

The UK-based firm confirmed that it was aware of the exploit and stated that their team is currently working with security professionals and law enforcement to release further information when available .

EUl Token Plunge

Following the news, Euler Labs‘ EUL token has plunged by roughly 48% to 3.10 according to CoinMarketCap data .

Background on Euler Finance

Euler Finance provides on-chain lending services and completed a $32 million funding round that included Coinbase and defunct crypto exchange FTX in 2022 .


CryptoSlate does not endorse nor provide opinion on any project mentioned or linked to in this article which should be taken as investment advice nor does CryptoSlate take responsibility for losses incurred due to investing in cryptocurrency-related projects..