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
-
Shiba Inu burn Twitter account experiences suspension
-
Brian Trautman's Transformation: From Software Engineer to World Sailor
-
'Kaboom Moment': Market Pundit Makes Strong Case For Ripple's XRP Rocketing Past $18 Price
-
Binance’s BNB Chain introduces layer-2 testnet powered by Optimism
-
3AC co-founder avoids contempt charges following evidence of Singaporean citizenship