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web3 is going just great (web3isgreat@indieweb.social)'s status on Friday, 17-Feb-2023 08:14:23 JST web3 is going just great

Platypus Finance stablecoin exploited for $8.5 million ten days after launch
February 16, 2023
https://web3isgoinggreat.com/?id=platypus-finance-stablecoin-exploited
In conversation Friday, 17-Feb-2023 08:14:23 JST from indieweb.social permalink
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1. Platypus Finance stablecoin exploited for $8.5 million ten days after launch Platypus USD, a stablecoin issued by the Platypus Finance defi protocol, was exploited only ten days after it first launched. The loss was estimated to be around $8.5 million, although crypto researcher zachxbt observed that Tether had blacklisted the attacker contract shortly after the theft. The exploit was a flash loan attack that allowed them to drain some protocol pools, also causing the stablecoin to lose its dollar peg and drop to around $0.48. A team member reported on the project's Discord that "all operations are paused until we get more clarity".
  https://cdn.masto.host/indiewebsocial/media_attachments/files/109/876/867/181/758/899/original/108db4c7f4f02c79.png
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  Platypus Finance stablecoin exploited for $8.5 million ten days after launch
  
  from @molly0xfff
  
  Platypus USD, a stablecoin issued by the Platypus Finance defi protocol, was exploited only ten days after it first launched. The loss was estimated to be around $8.5 million, although crypto researcher zachxbt observed that Tether had blacklisted the attacker contract shortly after the theft.The exploit was a flash loan attack that allowed them to drain some protocol pools, also causing the stablecoin to lose its dollar peg and drop to around $0.48. A team member reported on the project's Discord that "all operations are paused until we get more clarity".
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  stux⚡ (stux@mstdn.social)'s status on Friday, 17-Feb-2023 08:14:24 JST stux⚡
  in reply to
  
  @web3isgreat By https://twitter.com/danielvf/status/1626340324103663617?s=20 btw!
  In conversation Friday, 17-Feb-2023 08:14:24 JST permalink
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    https://twitter.com/danielvf/status/1626340324103663617
    
    from Daniel Von Fange
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  stux⚡ (stux@mstdn.social)'s status on Friday, 17-Feb-2023 08:14:25 JST stux⚡
  in reply to
  
  @web3isgreat Well, that was easy...
  Just deposit, loan, and emergengy withdrawl :flan_laugh:
  #Platypus
  In conversation Friday, 17-Feb-2023 08:14:25 JST permalink
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  1. No check or ajustment for borrowed funds on Platypus hack
    https://media.mstdn.social/media_attachments/files/109/876/939/100/682/042/original/5252ee7f2cebbc6f.jpg
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