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Security Incident · Avalanche Ecosystem

Platypus Arbitrage attack: $50.00K Reported Loss

·Historical incident record

Incident Overview

The Avalanche project Platypus has been attacked again. According to the analysis of SlowMist, since the price difference between the two pools was not taken into account during the token exchange via CoverageRatio, it resulted in users being able to arbitrage by depositing USDC and then withdrawing more USDT. Arbitrageurs have arbitraged around 50,000 USDC in this way.

Sources & References

Original incident referencehttps://snowtrace.io/address/0xc64afc460290ed3df848f378621b96cb7179521a (opens in a new tab)

This record presents information attributed to the linked sources. Incident dates describe the original event, not a new report. Reported loss figures reflect the source record and are not current market valuations.

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