After the return of the funds from the Euler Finance hacker, the community as well as Euler Labs are in the middle of thinking about a quick redistribution of the funds to the users.

Rapid redistribution of stolen funds to Euler Finance users

The community behind Euler Finance, the decentralised finance lending protocol (DeFi) that suffered a $200 million hack in March, will soon be asked to vote on how to distribute the recovered funds to users.

Indeed, the proposal, created five days ago, aims to allow damaged Euler Financer users to get their funds back as quickly as possible. According to the proposal, presented by co-founder Doug Hoyte and chosen as the best approach by the Euler Foundation, Euler Labs and external advisors, the aim is to allow users to recover their capital as quickly as possible.

This hack was a particularly trying time, but the consequences could be even more severe if the funds had not been returned. Fortunately, Euler Finance said last week that it had recovered all recoverable funds stolen in the hack. The hacker also apologised to the community and the protocol.

Most funds returned to DeFi protocol

According to the Euler Governance Forum proposal, the recovered funds amount to more than 95,556 ethers (ETH) and 43 million stablecoin DAI. The unrecovered funds include the 1,100 ETH sent to Tornado Cash and the 100 ETH sent to an address associated with Lazarus, a hacker group allegedly linked to North Korea. A time when the hacker attempted to cover his tracks with investigators.

If the plan is approved, Euler will calculate the value of users' assets and liabilities using the prices at the time the protocol was disabled as a result of the hack. Luckily, the rise in the ETH over the past few days has even made it possible to make a profit in dollar terms.

Note that the story has a happy ending for most investors, which may not be the case for others like the latest victim SushiSwap.