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#1 2023-03-19 23:14:53

IyaJJJ
Member
Registered: 2023-01-25
Posts: 1,637

A portion of the money that was stolen from the famous platform Euler

A portion of the money that was stolen from the famous loan platform Euler Finance on Saturday was returned by the assailant. ZachXBT, a well-known on-chain detective, claims that the attacker returned 3,000 ETH, or $5.3 million, out of the approximately $197 million they stole from the network.
A renowned blockchain security firm, Peckshield also confirmed this development. The firm identified three transactions that were used by the attacker to send the funds. It is necessary to note that this development comes barely a few days after Euler Finance announced a $1 million reward for anyone willing to provide necessary information to tame the hacker. In the same vein, the protocol also asked the attacker to have a change of heart by refunding at least 90% of the stolen funds or risk possible jail term. Shortly after this announcement dominated the airspace, the attacker started moving the stolen funds to Tornado cash.

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#2 2023-03-20 08:15:08

Cat
Member
Registered: 2023-03-11
Posts: 153

Re: A portion of the money that was stolen from the famous platform Euler

So, if I understand correctly, blockchain is not secure?

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#3 2023-03-20 23:58:23

thrive
Member
Registered: 2023-01-04
Posts: 2,088

Re: A portion of the money that was stolen from the famous platform Euler

Cat;6203 wrote:

So, if I understand correctly, blockchain is not secure?

Don't get this wrong. Blockchain is secure and there's no way someone can break it even with the world's super-fast computer. However, the idea of Euler security is not secure at all and that is why it is important for us to make us of privacy.

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#4 2023-03-21 11:34:05

Cat
Member
Registered: 2023-03-11
Posts: 153

Re: A portion of the money that was stolen from the famous platform Euler

thrive;6322 wrote:

Don't get this wrong. Blockchain is secure and there's no way someone can break it even with the world's super-fast computer. However, the idea of Euler security is not secure at all and that is why it is important for us to make us of privacy.

I was recently arguing about the reliability of blockchain, and people did not believe in its security. Their argument was that it is "digital" money, which can disappear in an instant. The same could be said about paper money, inflation and so on. People do not want to switch to something new, even if the old system is rotten.

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#5 2023-03-21 23:27:56

IyaJJJ
Member
Registered: 2023-01-25
Posts: 1,637

Re: A portion of the money that was stolen from the famous platform Euler

Cat;6203 wrote:

So, if I understand correctly, blockchain is not secure?

Blockchain technology creates a data structure with inherent security properties. It is based on cryptography, decentralization and consensus principles to ensure the reliability of transactions. Therefore, miners are the ones who power the network and keep transactions running smoothly.

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#6 2023-03-21 23:30:11

joanna
Member
Registered: 2023-01-10
Posts: 2,537

Re: A portion of the money that was stolen from the famous platform Euler

Cat;6338 wrote:
thrive;6322 wrote:

Don't get this wrong. Blockchain is secure and there's no way someone can break it even with the world's super-fast computer. However, the idea of Euler security is not secure at all and that is why it is important for us to make us of privacy.

I was recently arguing about the reliability of blockchain, and people did not believe in its security. Their argument was that it is "digital" money, which can disappear in an instant. The same could be said about paper money, inflation and so on. People do not want to switch to something new, even if the old system is rotten.

If people do not want to switch to 21st-century internet money you do not need to force them cause it's normal because some people are always behind in new technology while some see it as a hindrance.

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#7 2023-03-21 23:33:07

thrive
Member
Registered: 2023-01-04
Posts: 2,088

Re: A portion of the money that was stolen from the famous platform Euler

joanna;6436 wrote:
Cat;6338 wrote:
thrive;6322 wrote:

Don't get this wrong. Blockchain is secure and there's no way someone can break it even with the world's super-fast computer. However, the idea of Euler security is not secure at all and that is why it is important for us to make us of privacy.

I was recently arguing about the reliability of blockchain, and people did not believe in its security. Their argument was that it is "digital" money, which can disappear in an instant. The same could be said about paper money, inflation and so on. People do not want to switch to something new, even if the old system is rotten.

If people do not want to switch to 21st-century internet money you do not need to force them cause it's normal because some people are always behind in new technology while some see it as a hindrance.

despite how cryptocurrency has become extremely popular over the past few years, through its benefits which include cheaper and quicker money transactions and decentralized systems that do not fail at a single point some people still wont like but when all the fiat currency lose value they will like crypto.

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#8 2023-03-22 11:54:24

Cat
Member
Registered: 2023-03-11
Posts: 153

Re: A portion of the money that was stolen from the famous platform Euler

thrive;6438 wrote:

despite how cryptocurrency has become extremely popular over the past few years, through its benefits which include cheaper and quicker money transactions and decentralized systems that do not fail at a single point some people still wont like but when all the fiat currency lose value they will like crypto.

))) , so it's worth stocking up on crypto and waiting for it to surge.

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