Angle protocol heavily impacted by the Euler Finance hack

Angle protocol heavily impacted by the Euler Finance hack

Monday, March 13, 2023 is definitely rich in emotions and unexpected information. Only a few hours ago, we informed you that the decentralized lending and borrowing protocol Euler Finance had been the victim of a hack on a large scale, leading to the theft of $190 million based on currently available data.

The constant intricacy of the various players in the crypto ecosystem has unfortunately had quite deleterious consequences on the very promising French project to issue stablecoins. Angle Protocol. Indeed, the latter used the services of Euler Finance within the framework of optimized lending strategies, and is therefore strongly impacted, with 17.6 million USDC blocked on Euler Finance.

Angle Protocol is not the only player suffering collateral damage from the Euler Finance hack. Swissborg as well as Idle DAO were also affected. This list is probably not exhaustive, information relating to this event is still rare. We will keep you informed of the evolution of the situation as soon as we have more information to provide you.

Last Verdict

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