Platypus Flash Loan Attack: $9.00M Reported Loss
The stablecoin trading project Platypus encountered a flash loan attack on AAVE, resulting in a total asset loss of approximately $9 million.
- Reported loss
- $ 9,000,000
- Attack category
- Flash Loan Attack
Incident Overview
According to the analysis, the vulnerability seems to lie in the verification of the MasterPlatypusV4 contract by the emergencyWithdraw function, which will only fail when the borrowed assets exceed the borrowing limit. The function then proceeds to transfer all of the user's deposit assets regardless of the value of the user's borrowed assets. On Feb. 18, The Block reported that at least $2.4 million has been recovered with the help of security firms after the Platypus hack.
Sources & References
This record presents information attributed to the linked sources. Incident dates describe the original event, not a new report. Reported loss figures reflect the source record and are not current market valuations.