Cryptocurrency [loss] $167,400

"Platypus DeFi loses $2.2M in another flash loan exploit"

2023-10-12 [vendor] Platypus Finance [chain] avalanche
Primary Source ↗
Financial Loss $167,400 (167,400 USD)
Recovered $1.5M
Blockchain(s) Avalanche

Incident Details

At this point, they should probably just have a form email ready to go. Platypus Finance has suffered a cumulative $2.23 million in losses thanks to several attacks on the platform over the course of several hours. This set of hacks followed a $8.5 million hack in February, and another hack of at least $150,000 in July.Platypus was quickly able to recover $575,000 from this latest hacker, thanks to a flaw in their attack. Later, they recovered all but $167,400 of the stolen funds after coming to an agreement with the attacker that they would not pursue legal action.

Total loss estimated at $167,400.

Technical Details

Initial Attack Vector
Flash loan attack on smart contract
Vendor / Product
Platypus Finance

Timeline

  1. 2023-10-12 Breach occurred
  2. 2023-10-12 Publicly disclosed