A new anecdote has emerged about the decentralized debt platform Euler Finance, which was hacked in the past months. Allegedly, an artificial intelligence tool detected the $200 million attack before it happened.
Web3 cybersecurity startup Forta Network claims that artificial intelligence predicted Euler Finance's attack.
Christian Seifert, a researcher at Forta Network, told the crypto media:
"Our AI models using machine learning previously detected the Euler attack. A few minutes before the hacker transferred the funds to their own account, we alerted the team to take immediate action."
Seifert emphasized that blockchain technology plays an important role in artificial intelligence and machine learning. The transparency in the blockchain database contributes to automation technologies to learn a concept much faster.
Euler Recovers Stolen Cryptocurrencies
Euler Finance, which was hacked in the first months of 2023, was luckier compared to similar cases. Authorities later announced that they had recovered all of the $200 million cryptocurrency stolen by the hacker.
Forta Network expert also touched on the pessimistic side of artificial intelligence technology. According to Christian Seifert, artificial intelligence has significant potential in social engineering.
