DeFi insurance company Nexus Mutual is demanding a $2 million refund from claimants of the Euler hack after the team got most of the money back from the hacker. Previously, Euler was hacked for $200 million, but the perpetrator returned almost all the money. So Nexus Mutual covered losses for those who ended up not actually losing. According to CoinDesk, the head of DeFi insurance company Nexus Mutual said that if policyholders suffered losses. On-chain data shows that Nexus Mutual is awaiting refunds from five customers who submitted claims following this attack in March. In total, these customers received nearly $2.4 million in claims, about $2 million of which was in crypto. Additionally, according to Dune data, Euler Finance’s redemption portal returned $133 million in assets to 457 users, six of whom were also Nexus Mutual policyholders. Euler’s hackers have already replaced the funds, and as a result, Euler on Wednesday began processing redemption transactions, including those already paid for by Nexus Mutual. the team even added a notice to the complaints portal reminding policyholders that they owe money.
Euler Under Legal Threats If It Doesn’t Return 2M To DeFi Nexus Mutual Insurer
