GM, this is The Crypto Xplorer, and we're about to take you on a wild ride. So, hold onto your saddle and get ready for some crypto cr*ziness

Here's what we got for you today:

• Euler Finance Offers $1M Bounty on Crypto Hacker Who Stole $200M

• Ethereum closer to long-awaited withdrawals

• Unstoppable domains and Polygon launch new user-owned digital ID

Euler Finance Offers $1M Bounty on Crypto Hacker Who Stole $200M

Euler Finance, the DeFi platform, has announced a $1 million reward for anyone who can catch the hacker who stole almost $200 million from its Ethereum-powered lending protocol.

But there's a catch:

If the hacker returns 90% of the funds, Euler will call off the manhunt. It's a classic case of "we'll forgive you if you just give us our money back".

The hacker gets to walk away with $19.6 million if he takes the deal.

Euler had partnered with six security firms to prevent such attacks, but that wasn't enough.

According to CertiK, the vulnerability was in the "donateToReserve" function. (I mean, if you're going to have a function called "donateToReserve," you might as well make sure it's properly secured, right?) 🤷‍♂️

In the end, all we can do is hope that the hacker has a change of heart and returns the funds.

Ethereum Closer to Long-awaited Withdrawal

Ethereum just completed its "Shapella" upgrade on the Goerli testnet.

The successful hard fork marks the final step before Ethereum validators can finally cash out their locked ether.

Once withdrawal becomes active on the public chain, validators will be able to withdraw their staked Ether via these two methods:

1. Partial withdrawal: Validators will be able to withdraw their earned rewards to an Ethereum address. (Validators who execute partial withdrawals will be able to continue to participate in network activities).
   

2. Full withdrawal: If the validator chooses to do so, they can withdraw the entirety of their 32 ether (including their earned rewards) and enter an exit queue.

But let's not count our ether before it's withdrawn, folks. There's still a month of testing left before the mainnet rollout, and delays are possible if major service providers are not ready in time.

So, fingers crossed that everyone gets their act together, or we might be waiting longer than a Game of Thrones fan for the next series. 🤞

Unstoppable Domains and Polygon Launch New User-Owned Digital ID

Unstoppable Domains (a blockchain domain name provider), has partnered with Polygon Labs to launch .polygon, a digital identity offering users a new way to enter Web3 applications and the decentralized web.

The .polygon domain name allows users to easily access the numerous dapps, games, and metaverses built on the Polygon blockchain.

Users can create profiles, connect them with their social channels, and display on-chain tokens such as tickets and awards.

Unstoppable Domains will launch exclusive access to premium .polygon gaming and digital domains from March 16.

Meaning users can claim names like gamer.polygon or 00.polygon.

These domains are essentially non-fungible tokens that can be traded and used as shorthand names for crypto wallet addresses.

That's all we have for today. See you on Twitter if you're there: @danielakpobare

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.