{"id":5253,"date":"2023-10-12T13:18:11","date_gmt":"2023-10-12T13:18:11","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=5253"},"modified":"2023-10-12T13:18:11","modified_gmt":"2023-10-12T13:18:11","slug":"platypus-finance-on-avalanche-avax-network-falls-victim-to-hackers","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/platypus-finance-on-avalanche-avax-network-falls-victim-to-hackers\/","title":{"rendered":"Platypus Finance on Avalanche (AVAX) Network Falls Victim to Hack Attack!"},"content":{"rendered":"<p><strong>Platypus Finance<\/strong>, a leading decentralized finance (DeFi) protocol operating on the Avalanche network, suffered a serious security breach resulting in a loss of over $2 million, according to information released by cybersecurity firm PeckShield.<\/p>\n<blockquote><p>You might like: <a href=\"https:\/\/coinengineer.net\/blog\/cipher-fan-a-new-socialfi-application\/\"><strong>Cipher.fan (A New SocialFi Application!)<\/strong><\/a><\/p><\/blockquote>\n<p>Platypus Finance quickly responded to this breach by temporarily suspending all liquidity pools. The project issued a statement on the matter, saying, <strong>\u201cWe have taken necessary measures to temporarily suspend all pools due to suspicious activities in our protocol. Other updates will be promptly relayed to the community.&#8221; <\/strong><\/p>\n<p>A flash loan attack is exploiting this security gap, specifically targeting the AVAX-sAVAX liquidity pool. Flash loans are a critical feature of decentralized finance that allows users to borrow assets without collateral, but with the condition of repaying the loan within the same transaction block.<\/p>\n<p>Unfortunately, this type of security breach is not a new situation for Platypus Finance. The protocol encountered a similar event in February 2023 targeting the newly launched stablecoin USP in a flash loan attack. During this previous event, perpetrators stole an estimated $8.5 million from the project.<\/p>\n<hr \/>\n<p><em>In the comment section, you can freely share your comments about the topic. Additionally, don\u2019t forget to follow us on\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Telegram<\/strong>,\u00a0<\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\"><strong>Twitter<\/strong><\/a>\u00a0for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Platypus Finance, a leading decentralized finance (DeFi) protocol operating on the Avalanche network, suffered a serious security breach resulting in a loss of over $2 million, according to information released by cybersecurity firm PeckShield. You might like: Cipher.fan (A New SocialFi Application!) Platypus Finance quickly responded to this breach by temporarily suspending all liquidity pools.<\/p>\n","protected":false},"author":2,"featured_media":5252,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[1956,272,93,935,1957],"class_list":["post-5253","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-avalanche-network","tag-avax","tag-defi","tag-hack-attack","tag-platypus-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Platypus Finance on Avalanche (AVAX) Network Falls Victim to Hack Attack! - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Platypus Finance, a leading decentralized finance (DeFi) protocol operating on the Avalanche (AVAX) network falls victim to hack attack!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/platypus-finance-on-avalanche-avax-network-falls-victim-to-hackers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Platypus Finance on Avalanche (AVAX) Network Falls Victim to Hack Attack! - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Platypus Finance, a leading decentralized finance (DeFi) protocol operating on the Avalanche (AVAX) network falls victim to hack attack!\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/platypus-finance-on-avalanche-avax-network-falls-victim-to-hackers\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-12T13:18:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/10\/tempory-65.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Yunus Ta\u015fl\u0131\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Yunus Ta\u015fl\u0131\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/platypus-finance-on-avalanche-avax-network-falls-victim-to-hackers\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/platypus-finance-on-avalanche-avax-network-falls-victim-to-hackers\/\",\"name\":\"Platypus Finance on Avalanche (AVAX) Network Falls Victim to Hack Attack! - Coin Engineer\",\"isPartOf\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/platypus-finance-on-avalanche-avax-network-falls-victim-to-hackers\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/platypus-finance-on-avalanche-avax-network-falls-victim-to-hackers\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/10\/tempory-65.jpg\",\"datePublished\":\"2023-10-12T13:18:11+00:00\",\"dateModified\":\"2023-10-12T13:18:11+00:00\",\"author\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/3b5f1d8348693fca419229a65d8cf4b3\"},\"description\":\"Platypus Finance, a leading decentralized finance (DeFi) protocol operating on the Avalanche (AVAX) network falls victim to hack attack!\",\"breadcrumb\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/platypus-finance-on-avalanche-avax-network-falls-victim-to-hackers\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/coinengineer.net\/blog\/platypus-finance-on-avalanche-avax-network-falls-victim-to-hackers\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/platypus-finance-on-avalanche-avax-network-falls-victim-to-hackers\/#primaryimage\",\"url\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/10\/tempory-65.jpg\",\"contentUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/10\/tempory-65.jpg\",\"width\":1200,\"height\":750,\"caption\":\"Platypus Finance\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/coinengineer.net\/blog\/platypus-finance-on-avalanche-avax-network-falls-victim-to-hackers\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/coinengineer.net\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Platypus Finance on Avalanche (AVAX) Network Falls Victim to Hack Attack!\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\",\"url\":\"https:\/\/coinengineer.net\/blog\/\",\"name\":\"Coin Engineer\",\"description\":\"Btc, Coins, Pre-Sale, DeFi, NFT\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/coinengineer.net\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/3b5f1d8348693fca419229a65d8cf4b3\",\"name\":\"Yunus Ta\u015fl\u0131\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/3b7beb9215ebe43d2161c0de485eca68dcd10a6de219f9f665ac51ab09ca8fad?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/3b7beb9215ebe43d2161c0de485eca68dcd10a6de219f9f665ac51ab09ca8fad?s=96&d=mm&r=g\",\"caption\":\"Yunus Ta\u015fl\u0131\"},\"url\":\"https:\/\/coinengineer.net\/blog\/author\/ceyunus\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Platypus Finance on Avalanche (AVAX) Network Falls Victim to Hack Attack! - Coin Engineer","description":"Platypus Finance, a leading decentralized finance (DeFi) protocol operating on the Avalanche (AVAX) network falls victim to hack attack!","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/coinengineer.net\/blog\/platypus-finance-on-avalanche-avax-network-falls-victim-to-hackers\/","og_locale":"en_US","og_type":"article","og_title":"Platypus Finance on Avalanche (AVAX) Network Falls Victim to Hack Attack! - Coin Engineer","og_description":"Platypus Finance, a leading decentralized finance (DeFi) protocol operating on the Avalanche (AVAX) network falls victim to hack attack!","og_url":"https:\/\/coinengineer.net\/blog\/platypus-finance-on-avalanche-avax-network-falls-victim-to-hackers\/","og_site_name":"Coin Engineer","article_published_time":"2023-10-12T13:18:11+00:00","og_image":[{"width":1200,"height":750,"url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/10\/tempory-65.jpg","type":"image\/jpeg"}],"author":"Yunus Ta\u015fl\u0131","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Yunus Ta\u015fl\u0131","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/coinengineer.net\/blog\/platypus-finance-on-avalanche-avax-network-falls-victim-to-hackers\/","url":"https:\/\/coinengineer.net\/blog\/platypus-finance-on-avalanche-avax-network-falls-victim-to-hackers\/","name":"Platypus Finance on Avalanche (AVAX) Network Falls Victim to Hack Attack! - Coin Engineer","isPartOf":{"@id":"https:\/\/coinengineer.net\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/coinengineer.net\/blog\/platypus-finance-on-avalanche-avax-network-falls-victim-to-hackers\/#primaryimage"},"image":{"@id":"https:\/\/coinengineer.net\/blog\/platypus-finance-on-avalanche-avax-network-falls-victim-to-hackers\/#primaryimage"},"thumbnailUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/10\/tempory-65.jpg","datePublished":"2023-10-12T13:18:11+00:00","dateModified":"2023-10-12T13:18:11+00:00","author":{"@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/3b5f1d8348693fca419229a65d8cf4b3"},"description":"Platypus Finance, a leading decentralized finance (DeFi) protocol operating on the Avalanche (AVAX) network falls victim to hack attack!","breadcrumb":{"@id":"https:\/\/coinengineer.net\/blog\/platypus-finance-on-avalanche-avax-network-falls-victim-to-hackers\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/coinengineer.net\/blog\/platypus-finance-on-avalanche-avax-network-falls-victim-to-hackers\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/platypus-finance-on-avalanche-avax-network-falls-victim-to-hackers\/#primaryimage","url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/10\/tempory-65.jpg","contentUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/10\/tempory-65.jpg","width":1200,"height":750,"caption":"Platypus Finance"},{"@type":"BreadcrumbList","@id":"https:\/\/coinengineer.net\/blog\/platypus-finance-on-avalanche-avax-network-falls-victim-to-hackers\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/coinengineer.net\/blog\/"},{"@type":"ListItem","position":2,"name":"Platypus Finance on Avalanche (AVAX) Network Falls Victim to Hack Attack!"}]},{"@type":"WebSite","@id":"https:\/\/coinengineer.net\/blog\/#website","url":"https:\/\/coinengineer.net\/blog\/","name":"Coin Engineer","description":"Btc, Coins, Pre-Sale, DeFi, NFT","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/coinengineer.net\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/3b5f1d8348693fca419229a65d8cf4b3","name":"Yunus Ta\u015fl\u0131","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3b7beb9215ebe43d2161c0de485eca68dcd10a6de219f9f665ac51ab09ca8fad?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3b7beb9215ebe43d2161c0de485eca68dcd10a6de219f9f665ac51ab09ca8fad?s=96&d=mm&r=g","caption":"Yunus Ta\u015fl\u0131"},"url":"https:\/\/coinengineer.net\/blog\/author\/ceyunus\/"}]}},"_links":{"self":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/5253","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/comments?post=5253"}],"version-history":[{"count":2,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/5253\/revisions"}],"predecessor-version":[{"id":5265,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/5253\/revisions\/5265"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media\/5252"}],"wp:attachment":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media?parent=5253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/categories?post=5253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/tags?post=5253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}