Euler Finance, the crypto lending platform has disclosed that the company was hacked and funds of $197 stolen by the hackers.
This disclosure comes after the blockchain monitoring firm, PeckShield on Monday tweet ominously at the crypto lending platform Euler Finance, saying: “Hi […] you may want to take a look.”
The firm told Euler to have a look at the series of transactions on the platform and indicated there was an ongoing hack.
According to PeckShield, performed a “in a flurry of transactions” which led to the theft of cryptos worth around $197 million.
Crypto security firm BlockSec also confirmed the security breach.
“We are aware and our team is currently working with security professionals and law enforcement,” Euler wrote in response to the tweet.
“We will release further information as soon as we have it.”
There has been no further statement from either Euler or the company’s spokesman