Seraphim Czecker, the head of risk at Euler Labs, has recently declared his resignation through a tweet. Czecker was employed by Euler Finance as a contract worker for a little over a year and has prior experiences of working as an FX trader at Goldman Sachs.
In response to Czecker's tweet, Michael Bentley, CEO of Euler, clarified that the departure was planned before the $197 million attack on Euler Finance, which happened in March 2021. An attacker was able to exploit a vulnerability in the system and liquidated underwater accounts in favor of the liquidation bonus.
Euler Labs was successful in retrieving $177 million from the hacker by apology and returned stolen assets. Last year, Euler managed to raise $32 million through a funding that was supported by firms such as Haun Ventures, FTX, Coinbase, and Uniswap Labs Ventures.
Czecker's departure from Euler is a milestone and the company is yet to make an official statement or find a replacement for the open post. It is yet to be seen how Euler’s risk management and overall security will cope up without Seraphim Czecker at the helm. The past month has been turbulent for the cryptocurrency space and calls in for extra caution in light of changes that happened in the DeFi protocols.
Kate Moore
- 2023-04-19
Seraphim Czecker of Euler Labs Resigns
Seraphim Czecker, the head of risk at Euler Labs, recently declared his resignation through a tweet. CEO of Euler, Michael Bentley, clarified that the departure was planned before the $197 million attack on Euler Finance. Euler Labs is yet to make an official statement or find a replacement for the post.
