Platypus DeFi Attackers Now Under French Police Custody

  1. Platypus DeFi platform attackers have been arrested by the French police.
  2. The hackers were identified with the help of Binance and ZachXBT.
  3. Last week, Platypus was exploited for $9 million using flash loans.

Two persons allegedly suspected of attacking Platypus Finance a week ago have been arrested by the French police, according to the DeFi platform.

The said persons, whose identities were not yet revealed to the general public, were caught with the help of Binance and ZachXBT.

For those unfamiliar with the hack, last week, blockchain security platform Certik alarmed the crypto community after it noticed an absurd activity happening around Platypus. It turned out that at least one hacker has siphoned $9 million out of the DeFi platform via flash loans.

Affected stablecoins included Circle USD (USDC), Tether USD (USDT), and Binance USD (BUSD).

A majority of the above amount remained in the hacker’s contract address, while some went to other pools. Platypus then sought the help of Binance and ZachXBT in tracing the money and identifying the attacker.

After becoming aware of the exploit, blockchain security firm BlockSec helped recover $2.4 million USDC while Tether froze $1.5 million USDT.

Platypus also announced that it will be repaying affected users with at least 63% of the stolen funds. This happened after the DeFi protocol recovered some of the stolen funds.

Platypus Finance is a DeFi platform based on Avalanche. It provides various DeFi services around stablecoins.

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Jesus covers news related to the crypto space in Asia and in Australia, although he follows the latest events in the US and Europe as well. He is most interested in the blockchain gaming and regulation aspects of the industry.