{"id":564903,"date":"2023-03-17T09:25:32","date_gmt":"2023-03-17T06:25:32","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/euler-finance-hacked-despite-10-audits-in-2-years-says-ceo\/"},"modified":"2023-03-17T09:25:32","modified_gmt":"2023-03-17T06:25:32","slug":"euler-finance-hacked-despite-10-audits-in-2-years-says-ceo","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/euler-finance-hacked-despite-10-audits-in-2-years-says-ceo\/","title":{"rendered":"# Euler Finance hacked despite 10 audits in 2 years, says CEO"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a401c75332a1\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a401c75332a1\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/euler-finance-hacked-despite-10-audits-in-2-years-says-ceo\/#%E2%80%9D_Euler_Finance_hacked_despite_10_audits_in_2_years_says_CEO_%E2%80%9C\" >&#8221; Euler Finance hacked despite 10 audits in 2 years, says CEO &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Euler_Finance_hacked_despite_10_audits_in_2_years_says_CEO_%E2%80%9C\"><\/span>&#8221; Euler Finance hacked despite 10 audits in 2 years, says CEO &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDMvZGMzYThhOWMtY2U5MC00ZWJjLTlkYzctZTI1OTcxOWJhMzU3LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-48054ca8>Ten separate audits conducted over a two-year period of the Ethereum-based lending protocol Euler Finance deemed it to be \u201cnothing higher than low risk\u201d and having \u201cno outstanding issues\u201d prior to it suffering from a $196 million attack.<\/p>\n<p>In a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of tweets on March 17 Euler Labs CEO, Michael Bentley described the \u201chardest days\u201d of his life after Euler\u2019s $196 million flash loan attack on March 13.<\/p>\n<p>He retweeted one user sharing information that Euler had 10 audits from 6 different firms, and commented that the platform \u201chas always been a security-minded project.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Euler has always been a security-minded project. The Euler smart contracts, including the vulnerable lines of code, were audited.<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/SvNeoKEGuY\">https:\/\/t.co\/SvNeoKEGuY<\/a><\/p>\n<p>\u2014 Michael Bentley (@euler_mab) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/euler_mab\/status\/1636411178615451648?ref_src=twsrc%5Etfw\">March 16, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Blockchain security firms including Halborn, Solidified, ZK Labs, Certora, Sherlock and Omnisica <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/docs.euler.finance\/security\/audits\">conducted<\/a> smart contract audits on Euler Finance from May 2021 to September 2022.<\/p>\n<p>Halborn ranked its risk assessment by measuring the \u201clikelihood of a security incident\u201d and the impact it may have, with the risk level ranging from very low and informational, to critical \u2014 Euler received \u201cnothing higher than low risk.\u201d<\/p>\n<p>It was revealed in a Dec. 2022 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.euler.finance\/blog\/euler-announces-security-audit-by-halborn\">summary<\/a> of Halborn\u2019s audit that it had found \u201can overall satisfactory result.\u201d<\/p>\n<p>The summary stated 23 smart contracts were \u201cinspected and analyzed\u201d by Halborn over a one-month period, of which only \u201ctwo low risks and three informational\u201d risks were identified.<\/p>\n<p>Euler stated it had reviewed Halborn\u2019s coverage and concluded the risks \u201cpose no significant threats.\u201d<\/p>\n<p>Blockchain security firm Omnisica<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/omniscia.io\/reports\/euler-finance-chainlink-support\/\"> addressed<\/a> some \u201cincorrect paradigms\u201d in Euler\u2019s base sw<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>er implementation, as well as how the swap mode was \u201chandled by the codebase\u201d \u2014 but stated in the report that these issues were \u201cproperly dealt\u201d with by Euler, and \u201cno outstanding issues\u201d remained.<\/p>\n<p><strong><em>Related:<\/em><\/strong><strong><em> <\/em><\/strong><strong><em>Euler Finance blocks vulnerable module, working on recovering funds<\/em><\/strong><\/p>\n<p>On March 16 the protocol\u2019s hacker began moving funds through crypto mixer Tornado Cash only hours after a $1 million bounty was launched by Euler for information leading to the hacker\u2019s arrest.<\/p>\n<p>In his recent <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> thread Bentley said he\u2019ll never \u201cforgive the attacker\u201d as he was forced to \u201csacrifice time\u201d with his newborn son due to the attack but thanked security experts who are \u201cworking on leads\u201d for the investigation.<\/p>\n<p>Only 24 hours prior to the bounty, Euler issued a warning saying it would launch a one \u201cthat leads to your arrest and the return of all funds\u201d if 90% wasn\u2019t returned within 24 hours.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/euler-finance-hacked-despite-10-audits-in-2-years-says-ceo\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Euler Finance hacked despite 10 audits in 2 years, says CEO &#8220; Ten separate audits conducted over a two-year period of the Ethereum-based lending protocol Euler Finance deemed it to be \u201cnothing higher than low risk\u201d and having \u201cno outstanding issues\u201d prior to it suffering from a $196 million attack. In a series of&#8230;<\/p>\n","protected":false},"author":1,"featured_media":564904,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/dc3a8a9c-ce90-4ebc-9dc7-e259719ba357.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,74868,74891,74882,77595,70944,72287,10401],"class_list":["post-564903","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-defi","tag-ethereum","tag-hacks","tag-lending","tag-hackers","tag-security","tag-twitter"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/564903","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=564903"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/564903\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/564904"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=564903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=564903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=564903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}