Avalanche’s native token AVAX saw a brief price surge of 3.8% over 24 hours after a French court acquitted two brothers involved in February’s $8.5 million hack of the Platypus protocol.
The Ethereum-competitor has continued gaining market cap against Bitcoin since before this court ruling, suggesting the altcoin’s upside momentum is not solely linked to the legal development.
Keypoints
- AVAX price rose 3.8% over 24 hours after the acquittal of the Platypus hackers
- The Platypus hack in February 2023 caused an $8.5 million loss through a flash loan attack
- Two brothers were arrested for the hack, but recently acquitted by a French court
- One brother claimed to be an “ethical hacker” aiming to recover funds for restitution
- AVAX price surge may not solely be due to the court news, as altcoin market caps were already rising
Platypus Finance, built on the Avalanche blockchain, is an automated decentralized finance…
