Avalanche-Based DeFi Protocol Hacked: Token Price Crashed!

Platypus Finance (PTP), the DeFi platform operating on Avalanche (AVAX), was attacked and lost more than $ 2 million.

Decentralized finance (DeFi) platform Platypus Finance, flash loan attack stopped by. On-chain security firm PeckShield provided by to data According to the attack in question Thursday, October 12 10.00 CEST took place in its waters. attackers AVAX-sAVAX liquidity pool targeted. In the statement made by the security company, the damage more than 2 million dollars It was stated that it could happen.

Made by Platypus Finance team in the statement, liquidity pools have been temporarily suspended included:

Due to suspicious activity in our protocol, we took proactive action and temporarily suspended all pools. Further updates will be communicated to the community in a timely manner. Thank you for your patience and understanding during this time.

Platypus Finance suffered a similar attack in February 2023 had been exposed. The attackers used the same method in the attack that took place in those days. $8.5 million had caused damage.

According to CoinGecko data, following the news of the attack, the platform’s native token PTP 40% decreasing around $0.0142 from level to $0.00846 declined.

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