Due to a hardware wallet failure, Euler's co-founder has lost EUL tokens worth 3.8 million dollars

ChainCatcher news, according to DL News, Michael Bentley, co-founder of the DeFi lending protocol Euler Finance, revealed that his personal crypto wallet malfunctioned last November, resulting in the loss of the private keys needed to recover the funds.

It is reported that Bentley holds approximately 120,000 EUL tokens, accounting for 4.4% of the total token supply, which means he has lost $3.8 million at today's prices.

Bentley stated, "I have now lost a significant portion of the crypto assets I held in my cold wallet, which have been accumulated over more than seven years, including most of the EUL tokens allocated to me for participating in Euler governance."