Another hacking scandal in the Avalanche network: DeFi project exploded!

Platypus Finance, the DeFi project in the Avalanche ecosystem, lost $ 2 million as a result of the hack.

PeckShield, which provides data research and security services in the field of crypto, revealed a new hacking scandal with its post on the X platform. According to data, Platypus Finance, one of the DeFi projects of the Avalanche network, lost $ 2 million after the hack attempt.

Platypus Finance reacted quickly after the hack and suspended all its pools. The DeFi platform gave the message that it started working on the issue.

Platypus Finance was shaken by a $2 million hack

DeFi project Platypus Finance, which uses the Avalanche network, was shaken after being exposed to a $ 2 million hack. PTP, the native token of the project, dropped from $0.012 to $0.0087. PTP’s depreciation reached 40 percent.

Details about the hack have not yet come from a source other than PeckShield. PeckShield stated that the hack attempt was made to the AVAX-sAVAX liquidity pool on the Platypus Finance platform. $2 million was stolen from the project pool with the Flash Credit hack.

This is the second attack that Platypus Finance has suffered. A similar attack had previously been made against the project’s stablecoin, USP. $8.5 million evaporated in the USP hack that took place in February 2023.

These days, as the US regulatory pressure on crypto intensifies, hacking incidents in the DeFi field are causing problems. DeFi stood out as the sector most exposed to hacks in the crypto industry.

Another hacking attempt on the Avalanche network was against Stars Arena. Stars Arena, one of the most popular projects of the SocialFi trend, recently attracted the reaction of users with the hack it experienced.