Decentralized finance (DeFi) platform Platypus Finance has suffered another flash loan exploit, resulting in a loss of over $2 million. The hack was first reported by blockchain security firm PeckShield on October 12th, prompting the platform to temporarily suspend all pools. The attackers targeted the AVAX-sAVAX liquidity pool. CertiK’s investigation revealed that approximately $1.3 million worth of wrapped AVAX and around $913,000 in liquid-staked AVAX were stolen. Platypus Finance has initiated an investigation into the incident but has not yet released a post-mortem report or confirmed the exact amount of assets stolen. This is not the first time the protocol has been targeted, as it previously suffered a flash loan attack in February, resulting in a loss of over $8.5 million. The team behind the DeFi protocol had managed to recover 61.7% of the initial losses and initiated a second phase of recovery in September. Platypus Finance operates as an Automated Market Maker (AMM) protocol on the Avalanche blockchain, primarily facilitating stablecoin exchanges.

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Information	Details
Geography	Global
Countries
Sentiment	negative
Relevance Score	1
People	None
Companies	PeckShield, CertiK, Platypus Finance, Avalanche blockchain, Three Arrows Capital
Currencies	Avalanche
Securities	None