Blockchain safety agency CertiK reported on Feb. 16 that it has noticed a flash mortgage assault on Avalanche-based stableswap platform Platypus DeFi. The blockchain safety agency posted the information in a tweet, alongside the attacker contract tackle.
We’re seeing a #flashloan assault on @Platypusdefi leading to a possible lack of ~$8.5M.
Tx AVAX: 0x1266a937c2ccd970e5d7929021eed3ec593a95c68a99b4920c2efa226679b430
Keep Frosty! pic.twitter.com/AM2HOM5M2r
— CertiK Alert (@CertiKAlert) February 16, 2023
Based on the supply, almost $8.5 million has been already been moved. In consequence, the Platypus USD stablecoin turned depegged and dropped 52.2% to $0.478 at time of writing.
. @Platypusdefi new stablecoin has been exploited for about 8m it seems pic.twitter.com/hNLkiG4l8D
— Spreek (@spreekaway) February 16, 2023
A flash assault is identical technique utilized by Avi Eisenberg when he allegedly manipulated the worth of Mango Markets’ MNGO coin in October. Eisenberg stated shortly after the exploit that he believed “all of our actions had been authorized open market actions, utilizing the protocol as designed.”
Platypus has not but made a public assertion on the incident.