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Euler Finance, a DeFi lending platform based on the Ethereum blockchain, has been hacked, according to security experts at BlockSec.

Initially, the attackers stole $177.6 million in crypto assets from the platform. Among them were USDC tokens for $33.6 million, DAI for $8.7 million, WBTC for $18.5 million and stETH for $116 million. Then the BlockSec team discovered several more suspicious transactions and clarified that the amount stolen had increased to $197 million in cryptocurrency. .

Euler Labs, which is the developer of the Euler Finance protocol, soon announced the start of an investigation into the incident together with law enforcement agencies.

After reports of a hack, the exchange rate of the Euler token (EUL) collapsed by 44%. According to CoinGecko, the value of the crypto asset dropped from $6.14 to $3.27 in a couple of hours.   

Earlier it became known that the total value of the entire blocked cryptocurrency of the Hedera project in the smart contracts of the DeFi protocol fell by $5 million. This happened after a hacker attack and the subsequent suspension of Hedera services.

According to a report by cybersecurity experts from PeckShield, which was released in early March, a total of $35.5 million worth of cryptocurrencies were stolen in February in the world. The largest number of hacks, 141, occurred on February 11. Analysts found that the largest amount that hackers could steal when hacking one project was $9.2 million.