Two Suspects In Platypus Protocol Attack Have Been Arrested By French Police

Key Points:

• According to the official announcement of the stablecoin trading protocol Platypus, the French national police have arrested two suspects in the recent protocol attack.
• Tracing the identities of the two suspects is due to the help of Binance and the ZachXBT cryptocurrency KOL.
• Prior to that, the protocol experienced a $9 million attack. However most of the money has been recovered.

According to the official announcement from the stablecoin trading protocol Platypus, the announcement states that the two suspects in the AVAX flash loan attack have been arrested by the French national police.

“Update: @PoliceNationale have arrested and summoned 2 suspects who were reportedly exploiting our platform. Thanks to the assistance of @binance and @zachxbt in tracing their identities. Kudos to the prompt action by the authorities!”

The announcement from the project said.

Currently, the French National Police have arrested and summoned two suspects who attacked Platypus.

Platypus previously stated in a blog post that it worked with Binance to identify the attacker, contact French law enforcement and appeal.

The project also said that tracking down the identities of the two suspects was helped by Binance and KOL ZachXBT, who were brought in as a detective specializing in tracking cryptocurrency hacks.

Platypus promises to refund at least 63% of the funds to users, and the plan is still in the works.

As mentioned in an earlier Coincu News article, hackers exploited a vulnerability in Platypus’ solvency checking mechanism to steal approximately $9.2 million in digital assets, prompting USP to Its native stablecoin depreciated against the US dollar.

However, most of the money was recovered later, and the hackers were only able to earn a fraction of the stolen funds.

This can be considered as one of the Defi hacks with a quick and timely resolution that minimizes the loss. For the project’s announcement, the community expressed their joy and support for the project’s handling.

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