Euler Finance Hacker Mixes $1.6M in Ethereum on Tornado Cash

Funds tied to the latest Euler Finance exploit are on the move.

According to on-chain data, the attacker sent ten transactions to mixing service Tornado Cash worth 100 Ethereum each from an intermediary address, and still holds 1,500 ETH labeled as “Fake Phishing” at the same address.

The address has sent a total of 1,000 ETH, worth roughly $1.6 million.

Hackers moved part of the stolen funds less than 24 hours after Euler Finance—a borrowing and lending platform—warned that if 90% of the assets were not returned, the company would offer a $1 million bounty to anyone who can provide information that can lead to their arrest and the return of all funds.

Euler Finance fell victim to a flash loan exploit that resulted in the loss of $8.7 million in the DAI stablecoin, $18.5 million in Wrapped Bitcoin (WBTC), $135.8 million in Staked Ethereum (stETH), as well as $33.8 million in USDC.

While Euler confirmed that it is working with law enforcement, the company also suggested the criminal investigation could be potentially dropped if the money is returned.

Notably, along with the funds sent to Tornado Cash, the attackers, as confirmed by blockchain analytics firm CertiK, transferred 100 ETH to an address allegedly belonging to one of the victims.

The user, who claimed to have had 78 Wrapped Staked Ethereum (wstETH) of their life savings deposited on Euler, urged hackers to return him at least 80% or 90% of the funds. Surprisingly, they saw their appeal satisfied.