2 years ago
The DeFi exertion Platypus Finance has suffered a $9 cardinal attack, according to a bid of tweets from the blockchain information steadfast CertiK connected Feb. 16.
That study states that an attacker utilized flash loans connected the Avalanche (AVAX) blockchain to exploit a relation successful 1 of Platypus’ astute contracts.
The attacker deposited $44 cardinal of stablecoins into the application. With the assets obtained, the attacker could mint a akin magnitude of Platypus’ USP stablecoin (41.79 cardinal USP). The attacker past exploited an exigency withdrawal relation to entree the archetypal $44 cardinal deposit and the minted USP. Finally, the attacker swapped the USP for different assets earlier paying backmost the loan.
The last difference, and the estimated nonaccomplishment for Platypus, was $9 million. Most of the stolen funds reportedly stay successful the attacker’s declaration address, though immoderate person been sent to definite pools. Presumably, a information of that magnitude tin beryllium returned oregon recovered.
Platypus confirmed the flash indebtedness onslaught successful a connection connected Telegram and Discord. It wrote that it is assessing the concern and volition intermission operations.
This enactment of onslaught is not unsocial to Platypus. Several different DeFi platforms person been targeted by flash loans successful caller months, including Mango Markets successful October, New Free DAO successful September, Nirvana Finance past July, and Deus DAO past April.
The station Platypus Finance hacked for $9M connected Avalanche appeared archetypal connected CryptoSlate.
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