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OPINION: Euler hack drama highlights structural DeFi problems

Photo: Getty Images

Thomas Hyrkiel

3 min read
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While the turmoil in banking has attracted headlines, another very large hack of the DeFi protocol Euler has gone largely unnoticed.

A vulnerability in the protocol was exploited to steal $196m, and the hack is making waves in the DeFi community. It is an indication that despite the eye-watering figures involved pilfering is very much business as usual in this ecosystem.  

Euler is a permissionless lending protocol purpose built to

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