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The Slow Fog Founder Tweets About Sealed Attack Proceeds Worth $8.5 Million

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According to the report, Cosian, the founder of Slow Fog, tweeted about the theft of $8.5 million in Platypus. After decompiling the attack contract, it was fo…

The Slow Fog Founder Tweets About Sealed Attack Proceeds Worth $8.5 Million

According to the report, Cosian, the founder of Slow Fog, tweeted about the theft of $8.5 million in Platypus. After decompiling the attack contract, it was found that the attacker did not implement the cash withdrawal function in the contract, resulting in that the attack proceeds could not be extracted, and $8.5 million was sealed in the attack contract.

Cosine: Platypus hackers did not implement the cash withdrawal function in the contract, resulting in the failure to withdraw $8.5 million of “stolen money”

Interpretation of the news:


The message talks about the founder of Slow Fog, Cosian, who tweeted about the theft of $8.5 million in Platypus. Cosian stated on Twitter that the attacker had not implemented the cash withdrawal function in the contract, which made it impossible to extract the attack proceeds. As a result, the $8.5 million was sealed in the attack contract, and the attacker was unable to steal the funds.

Platypus is a decentralized finance (DeFi) platform that allows users to lend and borrow funds. The platform is built using smart contracts, which are self-executing contracts with the terms of the agreement written into code. The contracts are distributed across a network of computers, making them tamper-proof and transparent.

The attack on Platypus was carried out by exploiting a vulnerability in the platform’s smart contract. The attacker was able to execute a malicious contract that drained $8.5 million from the platform. However, the attacker failed to implement the cash withdrawal function in the contract, causing the attack proceeds to be sealed in the contract.

Slow Fog is a blockchain security company that provides security solutions for DeFi platforms. The company’s mission is to protect the blockchain ecosystem by detecting and preventing security breaches. Cosian’s tweet about the attack on Platypus highlights the importance of blockchain security and the need for continuous monitoring and improvement of DeFi platforms.

The theft of $8.5 million in Platypus is a reminder of the risks associated with DeFi platforms. While these platforms offer many benefits, such as lower fees and increased accessibility, they are still in the early stages of development and are susceptible to security breaches. As the DeFi ecosystem continues to grow, it is essential for platforms to prioritize security and implement robust security measures to safeguard user funds.

In conclusion, the Slow Fog founder’s tweet about the sealed attack proceeds worth $8.5 million in Platypus serves as a warning to the DeFi community about the importance of blockchain security. The incident emphasizes the need for continuous improvement of DeFi platforms to minimize the risk of security breaches, and the implementation of robust security protocols will ensure that user funds are protected.

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