Blockchain security firm CertiK reported on Feb. 16 that it has spotted a flash loan attack on Avalanche-based stableswap platform Platypus DeFi. The blockchain security firm posted the news in a tweet, alongside the attacker contract address.
According to the source, nearly $8.5 million has been already been moved. As a result, the Platypus USD stablecoin became depegged and dropped 52.2% to $0.478 at time of writing.
A flash attack is the same method used by Avi Eisenberg when he allegedly manipulated the price of Mango Markets’ MNGO coin in October. Eisenberg said shortly after the exploit that he believed “all of our actions were legal open market actions, using the protocol as designed.”
Platypus has not yet made a public statement on the incident.
Source: Read Full Article
-
XRP Encounters Fierce Resistance In It Reaches $0.45
-
Arbitrum DAO takes $56M of unclaimed ARB as airdrop deadline ends
-
XRP Price Faces Immense Sell Pressure That Could Trigger 20% Decline
-
Bitcoin Bearish Pattern Looms, Legendary Trader Sounds Warning
-
Former Twitter CEO Declares Ethereum a Security, Urges Coinbase to Focus on Bitcoin Amid SEC Lawsuit – Coinpedia Fintech News