Decentralized finance (DeFi) protocol Platypus Finance has experienced another flash loan exploit, resulting in a loss of over $2 million. Blockchain security firm PeckShield first alerted the community on October 12th, and the platform has since temporarily suspended all pools. The AVAX-sAVAX liquidity pool was specifically targeted in the attack.

CertiK's investigation revealed that two malicious entities stole approximately $1.3 million worth of wrapped AVAX (WAVAX) and around $913,000 in liquid-staked AVAX (sAVAX). Platypus Finance is currently investigating the matter and is yet to release a post-mortem report.

This is not the first time the protocol has fallen victim to a flash loan attack. In February, Platypus Finance experienced a devastating loss of more than $8.5 million. Since then, the team has recovered approximately 61.7% of the initial losses and initiated a second phase of recovery on September 26.