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Blockchain Security Company Recovers Millions of Dollars Stolen in Platypus Hack

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It is reported that after the stable currency trading project Platypus was attacked by hackers, with the help of blockchain security company BlockSec, at least…

Blockchain Security Company Recovers Millions of Dollars Stolen in Platypus Hack

It is reported that after the stable currency trading project Platypus was attacked by hackers, with the help of blockchain security company BlockSec, at least US $2.4 million has been recovered. MetalSleuth, a visualization tool of Blocksec, said that of the nearly $9.1 million stolen from Platypus, attackers could only cash in $270000. BlockSec took advantage of the vulnerability in the attack contract and used the callback function to transfer funds from the attack contract to the Platypus account. Currently, it has recovered $2.4 million. According to the previous news, Platypus suffered a flash loan attack and lost about $9 million. Most of the stolen funds remained in the attacker’s contract address, and some funds were sent to the EOA and AAVE pools. 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 frozen in the attack contract.

Security company BlockSec helped Platypus recover $2.4 million of stolen funds

Interpretation of the news:


The recent attack on the stable currency trading project Platypus by hackers resulted in the loss of approximately $9.1 million. However, with the help of blockchain security company BlockSec, at least $2.4 million of the stolen funds has been recovered. This was made possible through the use of MetalSleuth, a visualization tool developed by BlockSec. MetalSleuth revealed that the attackers were only able to cash out $270,000 of the stolen funds.

BlockSec was able to recover the funds by exploiting the vulnerability in the attack contract and using the callback function to transfer the funds from the attack contract back to the Platypus account. Currently, $2.4 million of the stolen funds has been recovered, which is a significant achievement in the field of blockchain security.

The attack on Platypus was a flash loan attack, resulting in the loss of $9 million. The majority of the stolen funds remained in the attacker’s contract address, and some of the funds were sent to the EOA and AAVE pools. After decompiling the attack contract, it was discovered that the attacker did not implement the cash withdrawal function in the contract. As a result, the attack proceeds could not be extracted, and $8.5 million was frozen in the attack contract.

This incident highlights the importance of blockchain security and the need for protocols to be put in place to prevent such attacks from occurring. It also shows the potential of blockchain technology to aid in the recovery of stolen funds, unlike traditional financial systems where funds lost due to cyberattacks are often unrecoverable.

In conclusion, the recovery of $2.4 million of the stolen funds from the Platypus hack is a significant achievement in the field of blockchain security. It demonstrates the potential of blockchain technology to aid in the recovery of stolen funds and highlights the importance of security protocols to prevent such attacks in the future. It is hoped that this incident will serve as a wake-up call for the wider industry to invest in robust cybersecurity measures.

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