Summary:
Users of Euler Finance were greeted with rare news on Wednesday as the platform opened the path to reimbursement after an exploit in March.
The Decentralized Finance (DeFi) lender opened redemptions of recovered funds on April 12 around 2:00 UTC following a $200 million hack on the platform just a few weeks ago. Opening redemptions for recovered funds means that Euler Finance users can begin to access crypto they had deposited on the platform before hackers stole funds from the DeFi lender.
Redemptions are possible this quickly because Euler was able to recover the bulk of the funds stolen during the $200 million flash loan exploit last month. The recovered Euler funds are worth around $223 million at current prices. This recovery includes 95,556 Ether (ETH) worth $182 million and $43 million in Maker’s DAI stablecoin.
The flash loan attacker funneled $1.8 million through sanctioned crypto tumbler Tornado Cash and sent 100 ETH to a victim. It’s unclear if these assets are part of the funds that Euler recovered.
Euler’s Discord server was flooded with euphoria as users shared excitement over the DeFi lender opening redemptions. Indeed, Euler’s case is rare in the DeFi space as protocols hardly ever recover stolen assets and rely on other means to make users whole.
Euler Finance was one of several protocols attacked by cybercriminals in the past few months. 2022 in particular posed a challenging year for the space as platforms lost over $3 billion from hacks, the most in crypto history. October last year was renamed “Hacktober”, making it the worse month ever for DeFi hacks.
Regardless of these exploits, some maintain that decentralized finance is a crucial part of crypto due to trustless protocols and the decentralized model leveraged by the platforms.
Zcash (ZEC) has erupted past key resistance levels this week, driven by surging derivatives flows…
Bangalore, India, 2nd October 2025, ZEX PR WIRE, Permute, an accessible Bitcoin bridge platform, announced…
Milan, Italy, 2nd October 2025, ZEX PR WIRE, Codego Group recently disclosed that its Whitelabel…
The U.S. Securities and Exchange Commission has suspended trading in QMMM Holdings Ltd. after weeks…
Brokers profit when clients lose — Afterprime 2.0 ends that conflict with the world’s first…
Bitcoin’s market share fell to about 57 percent in September, according to Binance Research’s Monthly…