🔔Decentralized finance (defi) protocol Platypus Finance suffered another hack this year, as approximately $2 million was stolen from the project.

According to security firm PeckShield, the protocol was exploited on the Avalanche blockchain as attackers discovered a vulnerability, allowing them to withdraw Wrapped Avax (WAVAX) and Staked Avax (SAVAX).

At press time, one of the hacker's wallets held more than $1.6 million worth of WAVAX and SAVAX. The total amount of stolen funds is estimated to be more than $2 million, according to PeckShield.

The Platypus team has confirmed the incident, saying that they have "temporarily" suspended all pools due to "suspicious activity within our protocols." While the nature of the hack remains unclear, reports say the protocol has once again suffered a flash loan attack.

#ftx #avalanche #usdr #galxe #DeFiChallenge

👉Follow, Like, Comment & Share ❤