Two persons allegedly suspected of attacking Platypus Finance a week ago have been arrested by the French police, according to the DeFi platform.
Read CRYPTONEWSLAND onThe 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.
WadzPay's entry into the stablecoin market triggers significant token surges, signalling confidence in its strategic…
LOS ANGELES, United States, May 7th, 2024, ChainwireGlobal brands and talent will be able to…
Investor's impulsive #FOMO decisions costs 239 #SOL and a long-term $36,000 profit, always practice patience…
Milan, Italy, May 7th, 2024, ChainwireCryptocurrency casino platform TG.Casino and iconic Italian football team AC…
🚀 Bitcoin Runes Protocol takes the lead in BTC transactions! 🌐 From halving to dominance,…
GSR and EMURGO team up to enhance Cardano's ecosystem with liquidity and market-making support, aiming…