According to CertiK, Platypus DeFi is under a flash loan attack
According to DefiLama, the market maker is used to exchange stable coins on Avalanche’s blockchain. It has a total locked worth of $46 million. News Own this piece in history CertiK, a NFTBlockchain security firm, reported on February 16 that it had detected a flash loan attack against Platypus DeFi, an Avalanche-based stableswap site. The blockchain security firm posted the news in a tweet, alongside the attacker contract address.#CertiKSkynetAlert We are seeing a #flashloan attack on @Platypusdefi resulting in a potential loss of ~$8.5M.Tx AVAX: 0x1266a937c2ccd970e5d7929021eed3ec593a95c68a99b4920c2efa226679b430Stay Frosty! pic.twitter.com/AM2HOM5M2r– CertiK Alert (@CertiKAlert) February 16, 2023
Sources claim that $8.5 million has already been moved. Platypus USD stablecoin was depegged, and it dropped 52.2% at the time of writing to $0.478. . @Platypusdefi new stablecoin has been exploited for approximately 8m it appears pic.twitter.com/hNLkiG4l8D– Spreek (@spreekaway) February 16, 2023
A flash attack is the same technique Avi Eisenberg used to manipulate the October price of Mango Markets MNGO coin. Eisenberg stated shortly after the exploit that he believed all of his actions were legal open-market actions and that he used the protocol as intended. “Platypus has not yet made any public statements on the incident.