Euler Finance Hacker: $20 Million Bounty or Prosecution?
A Dilemma for a Lucky Hacker!
So, if a hacker makes his way into the Euler Finance system, what does he or she get? A pat on the back? Maybe a signed copy of the company’s security policy? No, he was offered something much more interesting – a choice between two million dollars and imprisonment.
The hacker, who chose to remain anonymous (probably wise decision), took advantage of a flaw in Euler’s system and accessed customer data. Sensing Euler’s distress, the hacker then offered the company two options: pay a $20 million bounty to him in return for the data or face prosecution.
The Euler Financed Dilemma
Neither option was particularly appealing to Euler. Paying out the huge bounty for the data would draw headlines and any whiff of leniency toward an illegal hacker could hurt the company’s reputation. Not to mention the financial cost.
On the other hand, prosecuting the hacker would mean the company drawing further attention to the hack and potentially opening up a can of data-security worms.
So, what did Euler do?
Euler Makes a Deal
In the end, Euler decided to pay out the bounty and keep things quiet. On the plus side, the hacker was happy too, getting one of the largest bounties ever paid out for this kind of crime. On the downside, no word has been released as to whether proper security measures were put in place to stop any further hacks.
It seems Euler has made the best of an awkward situation. Not every hacker is lucky enough to get a choice between two million dollars and being put in prison!
Lessons to be Learned
For other companies, the key lessons are straightforward:
- Have comprehensive security measures in place
- Periodically audit the system to ensure its effectiveness
- Be prepared to act quickly when a breach is discovered
Don’t be caught in the same predicament as Euler. Make sure your security measures are up to date!
