Cryptocurrency Q&A
How did Euler Finance get hacked?
How did Euler Finance get hacked?
Chiara
Thu Aug 01 2024
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7 answers
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Can you explain the circumstances surrounding the hacking of Euler Finance? I'm curious to know how a seemingly secure platform fell victim to such an attack. Were there any specific vulnerabilities in their system that were exploited, or was it a more sophisticated and targeted attack? How did the hackers manage to gain access to sensitive information and potentially steal funds? Understanding the details of this incident could help prevent similar breaches in the future.
7 answers
Davide
Sat Aug 03 2024
The hacker devised an intricate scheme involving the creation of three distinct smart contracts: a primary contract, followed by two additional ones dedicated to violation and liquidation.
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KatanaBladed
Sat Aug 03 2024
Leveraging Aave, a renowned flashloan protocol, the hacker procured a substantial flashloan amounting to 30 million DAI.
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CryptoAlchemy
Fri Aug 02 2024
Among its offerings, BTCC provides spot trading, enabling users to buy and sell cryptocurrencies at current market prices. Additionally, it facilitates futures trading, allowing traders to speculate on the future price movements of digital assets.
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noah_doe_writer
Fri Aug 02 2024
With the acquired DAI, the hacker strategically transferred the funds to the violation contract, initiating a crucial step in their plan.
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OliviaTaylor
Fri Aug 02 2024
As part of their strategy, the hacker then deposited 20 million DAI into Euler Protocol, a move that facilitated the acquisition of approximately 19.6 million eDAI in return.
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