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    Euler Finance Exploitation

    On March 13th at approximately 8:50 UTC Euler Finance was exploited for - $197M in token value. Due to a flaw in the "Etoken" implementation (EToken::donateToReserves) an exploiter was able to create "bad debt" within the protocol. The dashboard provides some useful insights about this protocol's Exploitation on 13th March 2023.

    Euler Finance and its $EULER Token

    Euler Finance Protocol is a decentralized finance (DeFi) platform built on the Ethereum blockchain that aims to provide advanced financial tools and solutions for users. The protocol's primary focus is on creating an ecosystem for structured products and derivatives trading.

    The Euler Finance Protocol uses smart contracts to create decentralized financial instruments, such as options, futures, and swaps, which can be traded peer-to-peer without the need for intermediaries. The platform also supports a range of other DeFi features, including lending, borrowing, and liquidity provision.

    One of the key features of the Euler Finance Protocol is its use of advanced mathematical models, including those based on Euler's theorem, to create and price financial products. These models are designed to help users better understand the risks and returns of different financial instruments and make more informed investment decisions.

    In addition, the Euler Finance Protocol also incorporates a governance model that allows users to vote on key decisions related to the platform's development and management.

    The native token of the Euler Finance Protocol is called $EULER, which is used for governance and as a medium of exchange for transactions on the platform.

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    Euler Finance Exploit

    Ethereum-based noncustodial lending protocol Eurler Finance faced a flash loan attack on March 13, with the attacker managing to steal millions in DAI, USDC, Staked Ether (stETH) and Wrapped Bitcoin (WBTC).

    According to on-chain data, as per the last update, the exploiter carried out multiple transactions, stealing nearly $196 million. The ongoing attack has already become the largest hack of 2023.

    In this dashboard, we are going to deep dive into the hack process to see how was it done by exploiters and how has Euler Finance protocol and its native token, $EULER, was affected by this event.

    Dashboard by Ali3N

    Discord: Ali3N#8546

    Twitter: Alik_110

    Email: Alik110.72@Gmail.com

    Check out My Other Dashboards at: https://flipsidecrypto.xyz/Ali3N