Hackers have stolen $200M from crypto lending company Euler Finance.
The breach is the 26th largest crypto theft in the industry's history.
- The theft is believed to have happened over four transactions in currencies such as:
- dai (DAI),
- wrapped Bitcoin (WBTC),
- staked ether (sETH),
- and USDC.
- In order to steal the funds, the attacker conducted a flash loan attack.
- Flash loans allow DeFi users to borrow millions of dollars against zero collateral.
- The loan must be repaid before the transaction ends, or the smart contract reverses the transaction as if the loan never existed.
- Euler Finance has stated that it is currently investigating the breach and did not offer technical details.
