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
-
Crypto.com delists USDT for Canadian users following OSC ban
-
Alessandro De Grandi on The Nemesis, His Crypto Gaming Platform
-
Coinone Staffers Arrested By South Korean Law Enforcement
-
Breaking: Circle squashes rumors of planned SEC enforcement action
-
Deloitte, Chainalysis alliance to give law enforcement a crypto edge