Platypus Finance, a decentralized finance (DeFi) protocol, has fallen victim to yet another flash loan exploit, resulting in the loss of $2.23 million across three separate attacks that occurred on October 12, 2023, according to CertiK, a blockchain security firm.
In response to the attack, the protocol took the precautionary measure of suspending all its pools. The series of attacks unfolded methodically with the following procedure: the first attack, transpiring on October 12, saw $1.2 million extracted from the platform. Subsequently, a second attack occurred mere hours later, resulting in the theft of $575,000 worth of assets. Astonishingly, just a minute later, the third attack transpired, causing the loss of an additional $450,000 in assets.
The Platypus Finance protocol originated as a single-side Automated Market Maker (AMM) tailored for exchanging stable cryptocurrencies (ERC20 tokens) within the Avalanche blockchain ecosystem. Over time, Platypus has sought to innovate within
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