Hacker Drained $195 Million From Ethereum Lending Protocol Euler Finance

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Ethereum-based noncustodial lending protocol Euler Finance faced a flash loan attack, with the attacker stealing over $195 million in Dai, USD Coin, staked Ether (StETH) and wrapped Bitcoin (WBTC).

According to crypto analytic firm Meta Seluth, the attack correlates with a deflation attack one month ago. The attacker used a multichain bridge to transfer the funds from the BNB Smart Chain (BSC) to Ethereum and launched the attack,

On-chain sleuth ZackXBT said that the movement of funds and the nature of the attack seems quite similar to black hats that exploited a BSC-based protocol last month. After exploiting a protocol on BSC, the funds were deposited to the crypto mixer, Tornado Cash. 

Euler Finance acknowledged the exploit and said they are currently working with security professionals and law enforcement to resolv…