After negotiations with the team, the hacker who exploited the Platypus Finance DeFi protocol has returned 90% of the stolen assets.
As a result, the project was able to minimize losses to approximately 18,000 AVAX, equivalent to $164,700 at the time of writing.
The team of Platypus Finance released a statement verifying that there will be no legal action taken against the hacker, as promised.
The incident occurred on October 12 when the Avalanche-based protocol was targeted by an attack resulting in a $2 million loss in digital assets.
The attack was carried out through an exploit of the instant loan mechanism. In response, Platypus took immediate action by halting all liquidity pools and initiating a security review.
The project has assured users that a plan to resume withdrawal of funds will be announced soon. Unfortunately, this is not the first time the protocol has been targeted by hackers.
In February, attackers were able to withdraw $8.5 million in assets by taking advantage of a logical error in the solvency check mechanism within the collateral contract.
However, the perpetrators were later apprehended by French police.
