On 12th October 2023, a notable incident occurred within the decentralized finance (DeFi) sector as the protocol Platypus Finance on the Avalanche blockchain faced an exploit. The exploit led to a loss surpassing $2 million, triggering a surge of concern within its community and beyond.
Platypus Finance, via its official Twitter handle @Platypusdefi, alerted the community to suspicious activities within their protocol. The tweet, timestamped at 3:11 pm, mentioned that as a precautionary measure, they had temporarily suspended all pools. The aim was to ensure the safety of the funds and the integrity of the protocol while they investigate the issue. The tweet ended with a note thanking the community for their patience and understanding during this period.
Within the hour, at 3:21 pm, the blockchain security company PeckShield Inc took to Twitter to notify Platypus Finance about a possible exploit. Under the hashtag #PeckShieldAlert,…
