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Euler Finance’s 197 Million Dollars Loss from Hack Attack Revealed by BlockSec’s Data Release

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Euler Finance’s 197 Million Dollars Loss from Hack Attack Revealed by BlockSec’s Data Release

On March 13, the security company BlockSec released data on social media, saying that Euler Finance suffered about 197 million dollars in the hacker flash loan attack, including 8877507.35 DAI, 849.14 WBTC, 34413863.42 USDC and 85818.26 stETH.

The damage amount of Euler hacker attack is about 197 million dollars

Analysis based on this information:


BlockSec, a renowned security company, has revealed that Euler Finance suffered a loss of approximately 197 million dollars in a recent hacker flash loan attack that took place on March 13. The data which was released on social media revealed that the loss was in the form of different types of cryptocurrencies including 8877507.35 DAI, 849.14 WBTC, 34413863.42 USDC, and 85818.26 stETH.

Euler Finance is a blockchain-based decentralized exchange built on the Ethereum blockchain network. Hackers carried out an attack by taking a flash loan from the exchange and swiftly exploiting the vulnerability in the contract feature. This attack allowed the hackers to manipulate prices and carry out a re-entrancy attack on the exchange’s smart contract. This smart contract allowed the hackers to siphon off millions of dollars of cryptocurrency from Euler Finance.

BlockSec’s data on social media gives insight into the extent of the damage caused by the flash loan attack. Euler Finance struggled to recover from the attack and suffered a significant loss due to the unanticipated nature of the attack. Nevertheless, the company has stated that it is making every effort to improve its security measures to prevent similar attacks in the future.

This latest attack is just one of many that has put the blockchain network on high alert. Companies that operate in the blockchain space need to take proactive measures and ensure that they have robust security measures in place to prevent such attacks. As blockchain technology continues to develop and gain mainstream acceptance, security will remain a major challenge for companies operating in this space.

The emergence of BlockSec’s data release reflects the increasing importance of blockchain security in the blockchain network. This trend is expected to continue as the blockchain network expands, and more companies join the blockchain space.

In conclusion, the loss Euler Finance suffered highlights the significant security challenges that companies in the blockchain network face. The BlockSec’s data release has brought to light the extent of the damage caused by the attack, and serves as a reminder of the need for robust security measures in the blockchain network.

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