Euler Finance’s native token, EUL, today soared over 25% as the hacker responsible for its attack earlier this month returned a majority of the stolen assets. The exploiter returned an additional 51,000 ETH to the network today, taking the total amount of reimbursed Ethereum to 58,737.
The 51,000 ETH returned by the hacker, valued at over $89 million, is the hacker’s singular highest return so far after sending back 7,737 ETH and 3,000 ETH earlier to Euler. A user affected by the exploit also received a goodwill surplus reimbursement from the hacker, who returned 100 ETH as against the 86 ETH he had in Euler prior to the attack.
Euler lost roughly $200 million to a hacker last month. The hacker initially refused to take a bounty to return the stolen cash, prompting the DeFi protocol to offer $1 million to anyone with relevant information pertaining to the hacker. But with the series of returns, the exploiter seems to comply with Euler’s request.
Good Vibes Amongst Investors
The latest reimbursement by the hacker sparked a good sentiment among investors, causing a spike in Euler’s native token, EUL. The token soared over 47%, trading above $3.5 at press time.
EUL crashed by over 40% following the exploit earlier in the month and traded at $3.1 during that period. The recent uptrend means the token has recovered from its hack-induced fall and is currently at the pre-exploit price.
White Hat, After All?
In contrast to initial sentiments, the hacker might be a white hat exploiter after all. The hacker is yet to return the stolen funds completely; however, the spree of reimbursements proves that the exploit might be a white hat hack after all.
According to data, the exploiters used flash loans to drain the cash from the DeFi protocol. The hacker posed as having collateral for the loan but used an inflated wallet to make off with the funds. The hacker made away with $136 million of staked ETH, $34 million of USDC, $19 million of wrapped bitcoin, and $8.7 million of DAI from Euler Finance.
