French police have arrested two people in connection with an attack on the decentralized finance (DeFi) protocol Platypus. Platypus stated that it has recovered 2.4 million USDC and 687,000 BUSD out of the $9 million in stolen assets. According to a Twitter statement from France’s police department, two people have been arrested in connection with […]
French police have arrested two people in connection with an attack on the decentralized finance protocol Platypus.
As part of the arrest, French police seized approximately $220,000 in cryptocurrency. USDC, USDT, and BUSD are all stablecoins designed to mirror the value of fiat currencies such as the U.S. dollar. The Platypus team thanked Binance and ZachXBT in a tweet for their assistance in determining the identity of the attacker.The attack against Platypus used a flash loan and was similar to the attack structure used against Mango Markets late last year. Flash loans aren’t inherently bad; they were designed to be a tool for traders looking for arbitrage opportunities.
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