French police confirmed in a tweet that two individuals suspected of being responsible for an attack on decentralized finance (Decentralized Finance (DeFi) are financial services built on blockchain technology. It seeks to empower the populace by creating an open, efficient, and all-inclusive financial system. Using smart contracts, DeFi platforms provide permissionless finance, thus enabling financial inclusion for all. DeFi...Know more) protocol Platypus were detained on Feb. 24.
France’s Police Nationale stated that the arrested individuals were summoned to court after 210,000 euros in cryptocurrencies were seized.
#Cybercriminalite#PoliceNationale met fin a une escroquerie d'ampleur pour un prejudice de 9,5 millions??sur une societe americaine d’echange de cryptomonnaies.
Interpellation et convocation en justice de 2 individus
??saisie de 210 000 € en cryptomonnaies#PoliceJudiciairepic.twitter.com/rKKuG95cWh
— Police nationale (@PoliceNationale) February 24, 2023
Platypus Announces Recovery Plan
Last week, BeInCrypto reported that the What is it that makes the Ethereum network such a popular choice for decentralized finance (DeFi)? Decentralized Finance (DeFi) is a term that is being used to describe the world of financial services that are increasingly being offered through decentralized...Know more protocol was the target of an $8.5 million flash loan attack. The USP stablecoinStablecoins are a class of cryptocurrency that aims to provide price stability. A perceived drawback of cryptocurrency is price volatility. Value wildly spikes and falls, discouraging many people from adopting the virtual currency. Stablecoins were designed to address this issue,...Know more depegged by as much as 50%. However, reports suggested that USP regained its The days of earning large DeFi yields from staking or lending your cryptocurrency coins are being challenged by the ever-changing form of the crypto space. Still, there are projects, such as Anchor Protocol, looking to maintain the profits that crypto...Know more
On Feb. 23, the Platypus team confirmed collaborating with securityThere are many benefits of Bitcoin, one of many is the unprecedented freedom which it provides from banks through its technology. This is a revolutionary idea, no more banks needed. Here you'll find all the basic crypto security tips you...Know more professionals and stakeholders to find the hacker and reclaim the lost funds. Additionally, it verified that three separate assaults resulted in a sizeable loss of $9.19 million.
Since the attack, we've been working with security experts & stakeholders to recover lost funds, trace the hacker, and explore potential solutions to retrieve trapped funds.
Here's an update on the progress made thus far ??
Check our medium for more info??https://t.co/VoNYl9MAtd
— Platypus ?? (??+??+??) (@Platypusdefi) February 23, 2023
Subsequently, the platform confirmed the recovery of 2.4 million USDC. At the same time, Platypus claimed it is in talks with stablecoin issuers to get back the tokens. Issuers included , Ava Labs, and There are many cryptocurrency exchanges and wallets that provide great features for trading and investment, but one of the main platforms is Binance. Founded by Changpeng Zhao, a developer who built a number of different investment tools, the platform has...Know more
Users Can Now Access the Claim Page
In the most recent update, Platypus gave its users access to a claim page starting Feb. 27. According to which, users will be able to view their pre-attack balance, their post-attack USP-related activities, and the amount they will be able to claim once the first compensation is ready.
We're pleased to inform our users that we are now working on a page that will enable you to check your pre-attack balance, post-attack USP-related actions, and the amount you'll be eligible to claim once the first compensation is ready.
It will be available on Feb 27th. ??
— Platypus ?? (??+??+??) (@Platypusdefi) February 25, 2023
The page includes a breakdown of the Main Pool deposit, USP balance, and USP debt. It noted, “You can also check your post-attack actions, the compensation rate will vary depending on the action type.”
After the calculations are reviewed and finalized, the Platypus team aims to complete the refund process in March.
In response to a user, Vector Finance stated that it is working with the Platypus protocol to return the recovered money to the right users. Meanwhile, CoinGecko last updated the price of Platypus’ native USP stablecoin on Feb 18.
USP last traded on the exchanges listed by the platform ten days ago at $0.322260. Since then, an exploit disclaimer has interrupted all market activity of the stablecoin with an estimated circulating supply of 65 million.
