Hack history / 2023 / Hack or exploit
Euler V1
Hack or exploit on Mar 13, 2023 · Donation Attack
ATTACK TX CONFIRMED ON CHAINSOURCES AGREE ON DATE AND LOSS · 5 SOURCES
Lost
$197M
dollars at the time
Returned
$197M
100% of the loss, as a source states it
Rank
#30
among thefts by dollars lost
What happened
On March 13, 2023, Euler Finance was exploited via flash loan attack on the donateToReserves function. The attacker stole ~$197M in DAI, USDC, stETH, and WBTC via account balance inflation without actual collateral. The hacker returned funds within weeks; recovery completed by early April.
Details
- Date
- Mar 13, 2023
- Kind
- Hack or exploit
- Method
- Donation Attack
- How in
- Smart contract bug
- Target
- DeFi protocol
- Chains
- Ethereum
- Audit (rekt.news)
- Sherlock
After the theft
- Returned by the attacker
- yes, amount not stated
“The hacker returned funds within weeks;” (DefiLlama) - Recovered or frozen
- $197M
“$197.0M taken, $0K after recovery or freezing” (Web3 Is Going Great)
Related incidents
Euler Finance cofounder loses private key and, with it, $3.8 million 2024 · Costly mistake or other · $3.8M
Over $35 million lost as contagion from Euler hack spreads throughout defi 2023 · Hack or exploit · $37.6M
Hundred Finance 2023 · Hack or exploit · $7.2M
Onyx Protocol 2023 · Hack or exploit · $2.1M
CFC 2023 · Hack or exploit · $16K
Over $35 million lost as contagion from Euler hack spreads throughout defi 2023 · Hack or exploit · $37.6M
Hundred Finance 2023 · Hack or exploit · $7.2M
Onyx Protocol 2023 · Hack or exploit · $2.1M
CFC 2023 · Hack or exploit · $16K
Cite this page
SwanBluechip, "Euler V1 hack, Mar 13, 2023: $197M lost", Crypto hack history, https://swan-hack-tracker.pages.dev/history/i/ht25a0842d84/ (data as of 2026-10-31).