Following successful negotiations, all of the recoverable funds taken from the Euler protocol on March 13th have now been successfully returned by the exploiter.— Euler Labs (@eulerfinance) April 3, 2023
According to CoinDesk, the head of DeFi insurance company Nexus Mutual said that if policyholders suffered losses in the recent Euler Finance hack attack and filed a claim for damages that did not reimburse the insurance project, the agency would Its regulator may hire an attorney. Nexus Mutual reached out to Euler, and the team even added a notice to the complaints portal reminding policyholders that they owe money.
On-chain data shows that Nexus Mutual is awaiting refunds from five customers who submitted claims following this attack in March. In total, these customers received nearly $2.4 million in claims, about $2 million of which was in crypto. Additionally, according to Dune data, Euler Finance’s redemption portal returned $133 million in assets to 457 users, six of whom were also Nexus Mutual policyholders. Euler’s hackers have already replaced the funds, and as a result, Euler on Wednesday began processing redemption transactions, including those already paid for by Nexus Mutual.
Four of the six individuals have returned approximately $380,000 in crypto to the organization. And in a Telegram message, BraveNewDeFi, Nexus Mutual’s pseudonymous head of communications, stated that a contract holder traded 200 ETH (over $380,000) they owe to Nexus Mutual. CoinDesk attempted to contact the owner of the address but received no response.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.