Online trading platform reviews. Euler Finance hacker mixing the stolen funds on Tornado Cash
The hacker who stole almost $200 million from Euler Finance by exploiting a vulnerability on its flash loan smart contract has moved some of the stolen tokens through mixing protocol Tornado Cash. The attacker stole Dai (DAI/USD), USD Coin (USDC/USD), staked ETH and wrapped Bitcoin (WBTC).
Since the exploit took place, blockchain analytics firm Nansen has been tracking the exploiter’s fast-progressing movements. This morning Alex Svanevik, Co-founder & CEO of Nansen, tweeted a breakdown of the latest transactions carried out by the exploiter.
Euler Exploiter laundering funds this morning🌪️ pic.twitter.com/Jt3ojbF5cc
— Alex Svanevik 🐧 (@ASvanevik) March 16, 2023
1,000 ETH moved through Tornado Cash
The hacker started moving the funds just hours after a $1 million bounty was launched by Euler Labs for information leading “to the Euler protocol attacker’s arrest and the return of all funds.” A day earlier Euler Labs had also sent an on-chain message to the hacker’s address, warning it would launch a bounty for their arrest if the funds are not returned.
According to blockchain analytics firm PeckShield, the hacker transferred 1,000 Ether (ETH) (worth about $1.65 million) through the sanctioned Tornado Cash.
Interestingly, before moving the funds to Tornado Cash, the hacker apparently refunded one of the exploit’s victims after the victim asked the attacker to return their “life savings.” The refund spurred a slew of on-chain messages from other victims.
Have u confirmed this?https://t.co/0SdUY8S9CB
— Wazz (@WazzCrypto) March 16, 2023
EUL token on a free fall
On the day of the exploit, the price of EUL, the native token of the Euler Finance protocol, immediately plunged by more than 52%. The price dropped from $6.4824 to $3.0184 within hours.
The token has not recovered from the fall. It has dropped further to trade at $1.66 at press time. The token has shed more than 30% today alone.
It is however worth noting that the price of EUL has been on a bearish trend since February 28, and the exploit only aggravated the situation.
Here are reviews of some popular online trading platforms:
Robinhood: Robinhood is a well-known commission-free trading platform popular among beginner investors. It offers a user-friendly mobile app and web platform, making it easy to buy and sell stocks, ETFs, options, and cryptocurrencies. However, Robinhood has faced criticism for limited customer support and occasional outages during high market volatility.
TD Ameritrade: TD Ameritrade is a widely used platform known for its powerful and feature-rich thinkorswim platform. It offers a wide range of investment products, including stocks, options, ETFs, mutual funds, and futures. TD Ameritrade provides educational resources and has strong customer support. In 2020, TD Ameritrade was acquired by Charles Schwab, and the two platforms are in the process of merging.
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Fidelity: Fidelity is a reputable brokerage platform with a long-standing history. It offers a wide range of investment options, including stocks, options, ETFs, mutual funds, and fixed income products. Fidelity provides extensive research and educational resources, along with excellent customer service. They have also introduced commission-free trading for stocks, ETFs, and options.
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