December 1, 2023

Bobbys Brane

Bobbys Brane – Business & Tech Blog

How it happened, and what can be learned By Cointelegraph

1 min read

The March 13 flash loan attack against Euler Finance resulted in over $195 million in losses. It caused a contagion to spread through multiple decentralized finance (DeFi) protocols, and at least 11 protocols other than Euler suffered losses due to the attack.

Over the next 23 days, and to the great relief of many Euler users, the attacker returned all of the exploited funds.

eTokens are assets, while dTokens are debts

Users liquidated if health scores drop to 1 or below

addresses used by the hacker. Source: EtherscanLiquidation event emitted during the Euler attack. Source: Ethereum blockchain dataLosses from Euler attack. Source: BlocksecEuler’s RequestDonate event being emitted during the attack. Source: Ethereum blockchain dataEuler eToken contract transfer function. Source: GitHub

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