1. PixelPlaygroundHome
  2. Web3 News

Platypus to Repay Users After Recovering Stolen Funds

• Web3 News • 107 views

It is reported that Platypus, the DeFi agreement, said in a blog post that it would repay users at least 63% of the funds after successfully recovering part of…

Platypus to Repay Users After Recovering Stolen Funds

It is reported that Platypus, the DeFi agreement, said in a blog post that it would repay users at least 63% of the funds after successfully recovering part of the $9 million stolen from the agreement last week. The agreement also cooperates with Binance, the cryptocurrency exchange, to confirm the identity of the hacker. The hacker used a Binance account that passed the KYC check to make a withdrawal request. Platypus said that it contacted the law enforcement department and filed a complaint in France.

Platypus will repay at least 63% of user funds after hacker attacks

Interpretation of the news:


In a recent blog post, Platypus, a decentralized finance (DeFi) agreement, announced that it would repay its users at least 63% of the funds that were stolen from the platform last week. The DeFi agreement was targeted by hackers who managed to steal $9 million worth of funds, which led to the platform being forced to shut down temporarily.

Despite the setback, Platypus has been working tirelessly to recover the stolen funds and has succeeded in doing so to some extent. It is not clear how much of the stolen funds have been recovered, but the platform’s decision to start reimbursing its users shows that it has regained some confidence in its ability to secure user funds.

Platypus has also partnered with Binance, one of the largest cryptocurrency exchanges globally, to help identify the hacker who used a Binance account that passed the know-your-customer (KYC) check to make a withdrawal request. This shows that Platypus is taking cybercrime seriously and is willing to work with other players in the cryptocurrency industry to combat fraudulent activities.

The DeFi agreement has also contacted law enforcement authorities and filed a complaint in France, where the majority of the stolen funds were reportedly moved to. This move highlights the increasing importance of regulatory compliance in the burgeoning DeFi space, which has long been viewed as the Wild West of cryptocurrencies due to its lack of regulation.

In conclusion, Platypus’s decision to repay users after recovering some of the stolen funds sends a strong message to the broader DeFi industry. It shows that platforms need to take cybersecurity seriously and that they must work closely with other industry players to prevent fraudulent activities. Moreover, it highlights the importance of regulatory compliance in the DeFi space, which could be a double-edged sword as it might limit innovation in the industry. Nonetheless, it is crucial to ensure that user funds are protected, and investors have confidence in the DeFi space.

In summary, the Platypus DeFi agreement has recently announced that it would repay users at least 63% of the funds stolen from the agreement last week. The agreement is working with Binance to identify the hacker who used a Binance account that passed the KYC check to make a withdrawal request. Additionally, Platypus has filed a complaint in France and contacted law enforcement authorities.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/2889/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 02/24/2023 19:25
Next 02/24/2023 20:17

Recommended articles