news + tech + money 📰 📟 💸
 $197,000,000 Goes Poof…

In the latest incident of a DeFi platform hack, Euler Finance has reportedly fallen prey to a group of hackers who have made off with a staggering $197 million worth of cryptocurrency. 

The heist, which took place through a flash loan attack, has left the industry in a state of shock and heightened concerns over the security of such decentralized platforms.

Euler Labs released a statement confirming the hack on Monday morning, and that the authorities have been notified about the incident.

According to the findings of CertiK, a leading blockchain security company, the hackers responsible for the $197 million theft from Euler Finance employed six flash loan attacks to carry out the heist.

Through their investigation, CertiK discovered that two vulnerabilities in the Euler platform enabled the hackers to exploit the system and drain it of its funds.

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Ring’s Ransom

Irony strikes as Ring, whose mission is to protect your home, falls victim to a ransomware attack.

ALPHV, known for their BlackCat malware, is claiming responsibility for a breach of Ring's data and has threatened to release it to the public.

In a bold statement on their website, ALPHV taunts,

It’s still unclear what and how much ALPHV grabbed as the story is still unfolding.