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Recovery of 90% Stolen Assets by Platypus Finance

Recovery of 90% Stolen Assets by Platypus Finance

A DeFi Protocol, Platypus Finance has Recovered 90% Stolen Assets

A DeFi protocol, Platypus Finance has recovered 90% assets stolen from a recent security violation, limiting its net loss to $167,400 worth of AVAX. The funds were voluntarily retired by the hacker and legal action will not be taken. The attack involved three flash loan incidents, totaling $2.23 million. Platypus has halted liquidity pools after the security breach, conducting a security audit. This marks the third attack on the platform this year, with previous losses of $157,000 and $8.5 million. Platypus Finance had previously promised to return at least 63% of users' lost assets, emphasising the ongoing risks in the DeFi space. 

By: Gunjan Sahu

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