The hacker who ripped Euler Finance off nearly $200Million sends 100 Ether to Lazarus Group

On-chain data reveal transactions between wallet addresses associated with the recent exploit of the Euler DeFi protocol, and last year’s hack of Axie Infinity’s Ronin network.

According to Look on Chain,
the wallet addresses that exploited Euler Finance’s protocol have sent 100 Ether ($170,515) to a wallet associated with Lazarus Group’s Ronin network hack.

The U.S. Department of the Treasury added North Korea’s Lazarus Group to its list of designated entities in April.

In January, the Federal Bureau of Investigation (FBI) said that Lazarus Group, along with fellow North Korean hacking squad APT38, were responsible for the theft of $100 million in crypto assets from Horizon Bridge.

Euler Finance was exploited for nearly $200 million in crypto largely denominated in DAI, wrapped bitcoin, staked ether (sETH), and USDC.

The attacker behind Euler Finance exploit did not necessarily “hack” it, or break its code to intrude inside. Instead, the attacker manipulated internal markets via a flash loan to drain its treasury.


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