Notable

<p style="text-align: justify">Each day noteworthy events continue to unfold in the cryptocurrency market. Recently, two brothers responsible for hacking the decentralized <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">finance</a> (<a href="https://en.coin-turk.com/warbler-labs-announces-20-million-default-in-goldfinch-defi-credit-protocol/" data-wpel-link="internal" rel="noopener noreferrer nofollow">DeFi</a>) protocol Platypus and stealing $8.5 million were released by a French court without facing any charges. This decision has caused a significant stir within cryptocurrency communities.</p>
<h2 id="notable-details-from-the-hack-attack">Notable Details from the Hack Attack</h2>
<p style="text-align: justify">On February 16th, black hat hackers carried out a flash loan attack on Platypus, stealing $8.5 million and forcing the suspension of the protocol’s trade services until a solution was found. Preliminary investigations identified Mohammed M. as the perpetrator who exploited a code error to seize all assets via an unsecured loan.</p>
<p style="text-align: justify">With the help of <a href="https://en.coin-turk.com/binance-removes-22-liquidity-pools-from-binance-liquid-swap/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a>‘s security team and independent crypto researchers, the stolen funds were traced back to the black hat hackers Mohammed and his brother Benamar M.</p>
<p style="text-align: justify">While the duo was held in custody indefinitely from February 24th, they admitted to the theft during a hearing on October 26th but claimed they were ethical hackers. They also discussed plans to return the funds in exchange for 10% of the assets they had seized.</p>
<p><img decoding="async" class="aligncenter wp-image-284320" src="https://coin-turk.com/wp-content/uploads/2023/12/certik-tweet.png" alt="" width="550" height="831"></p>
<h2 id="platypus-struggles-with-hack-attempts">Platypus Struggles with Hack Attempts</h2>
<p style="text-align: justify">Considering the similarity to a bug bounty initiative, the hacker brothers were cleared of all charges. During the exploitation, crypto assets worth 7.8 million euros were stored in a wallet and then became inaccessible. While legal proceedings related to the hack continued, Platypus recently disclosed another loss of $2.2 million due to a separate flash loan exploit.</p>
<p style="text-align: justify">Research by blockchain security firm CertiK revealed that the attack conducted on October 12th was executed in three parts, withdrawing $2.23 million, $575,000, and $450,000 in various cryptocurrencies respectively. Following a settlement with the hacker on October 17th, Platypus managed to recover 90% of the stolen assets.</p>
<p><img decoding="async" class="aligncenter wp-image-284319" src="https://coin-turk.com/wp-content/uploads/2023/12/platypus-tweet.png" alt="" width="550" height="345"></p> <span style="font-weight:bold;font-size:16px">Continue Reading:</span> <a href="https://en.coin-turk.com/crypto-community-shaken-by-courts-decision-to-release-hackers/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/crypto-community-shaken-by-courts-decision-to-release-hackers/</a>

Crypto Community Shaken by Court’s Decision to Release Hackers

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