As a researcher with extensive experience in the cryptocurrency and blockchain space, I find the dynamics of this interplay between hackers intriguing. The Euler Finance hacker, who was cornered into returning 90% of their exploits, seems to appreciate the Penpie hacker’s unapologetic approach and successful escape with the loot.
The person responsible for the $195 million heist on Euler Finance in 2023 thanked the Penpie hacker for consistently transferring the stolen funds through Tornado Cash and giving no signs of returning the earnings.
A cybercriminal who orchestrated the recent $27 million breach of the Penpie protocol was praised by a fellow hacker who gained notoriety last year for targeting Euler Finance. The Penpie hacker executed the attack on September 3, successfully stealing the ill-gotten gains.
In approximately 12 hours, they channeled roughly $7 million of the ill-gotten gains, concealing their actions, into Tornado Cash. Additionally, reports from blockchain security firm PeckShield showed that the same address transferred over $23 million to Tornado Cash on September 6.
As the events surrounding the Euler Finance hack unfurled, I couldn’t help but chime in, sending an on-chain message to the Penpie hacker. PeckShield, keeping a close eye on the situation, relayed this interaction through their coverage of the hack. The message read, “#EulerFinance Exploiter congratulates #PenpiexyzExploiter: ‘Well done mate. I haven’t seen a hack like this for a while. It’s great that you managed to keep all the funds and didn’t let them recover even a single dollar of what you took. You won, they lost. Well played.’
Source: PeckShieldAlert on X
The Euler Finance Hacker Was Cornered to Return 90% of Their Exploits
The origin of the admiration lies in the Penpie hacker’s bold decision to keep the $27 million they obtained and not expressing any reservations or intentions to return it. Contrastingly, the Euler Finance hacker, who stole $195 million in 2023 through a flash loan attack on DeFi protocol Euler Finance, chose to return most of their ill-gotten gains.
Instead, Euler initiated a program offering a reward of $1 million for providing information that could lead to the arrest of the hacker. At the same time, they proposed that the hacker could retain $20 million and avoid legal action if they returned 90% of the stolen funds. Consequently, they chose this approach instead. In essence, Euler discontinued the $1 million campaign for obtaining the hacker’s details.
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2024-09-07 20:27