The vulnerability appears to be in verifying the MasterPlatypusV4 contract using the EmergencyWithdraw function, which will only fail when the borrowed asset exceeds the borrowing limit. Platypus’s stablecoin USP depegged from the U.S. dollar, dropping to $0.33. USP had been designed to be a stablecoin and was ‘pegged’ directly to the US dollar. Circle, who were asked to freeze the hacker’s funds in a measure to prevent more losses. “For now all operations are paused until we get more clarity,” a Platypus team member posted in the protocol’s Discord server.

“I’ve traced refereum ico review icosresses back to your account from the Platypus exploit and I am in touch with their team and exchanges,” ZachXBT said in a tweet aimed at user @retlqw. “We’d like to negotiate returning of the funds before we engage with law enforcement.” Staking crypto entails locking up your crypto asset to secure a particular network. Crypto staking is common with cryptocurrencies that use a Proof-of-Stake consensus algorithm.

You can always deposit and withdraw token in the same kind, without worrying about the pool compositions or pool size. The Platypus’s open liquidity pool design enables higher capital efficiency and lower slippage rate comparing with other stableswaps. Platypus invents a whole new AMM on Avalanche – Open liquidity single-sided AMM managing risk autonomously based on the coverage ratio, allowing maximal capital efficiency.

New Aave v3 Deployment On Ethereum 99.99% Community Supported

However, yesterday, crypto security firm BlockSEC helped Platypus get back $2.4 million from attackers by implementing an upgraded proxy. With this help, the attacker can only get a small fraction of the original stolen funds. As mentioned in an earlier Coincu News article, Platypus experienced a flash loan attack on AAVE, resulting in approximately $9 million in total asset damage. In addition, users do not need to worry about liquidation, liquidation is currently on hold and the stability fee after the attack will not be charged. The team is working with all parties to repair the damage, but more time is needed to confirm the results. Stablecoin exchange project Platypus is developing a plan to compensate users after the attack.

The version that was audited “contained no integration points with an external platypusTreasure system” and therefore did not contain the misordered lines of code. Platypus’s stablecoin, USP, lost its peg to the dollar, dropping to $0.33. It then briefly recovered to $0.97, but has since dipped back down to $0.48, data from CoinGecko shows. Platypus said that only 35% of Platypus’ user deposits are covered by other holdings. Since then, Platypus USD has de-pegged from the dollar and its value is at $0.33 at the time of writing.

• To empower, educate and give unique opportunities to people globally, so that they can better understand the current financial and monetary system, and have access to the same opportunities as the world’s elites.
• Jai Hamid is an enthusiastic writer whose current area of interest is the blockchain sector.
• As an NFT owner you have a chance to contribute to the lyrics of the songs, helping us promote the industry and empower the world.

1-hour, 4-hour and 1-day candlestick charts are among the most popular. The Platypus price forecast for the next 30 days is a projection based on the positive/negative trends in the past 30 days. Platypus Finance has operated in the Avalanche ecosystem for some time now as an established AMM operating a liquidity pool, and recently launched a stablecoin, USP, pegged to the US dollar.

MUSIC ALBUM – CRYPTO PLATYPUS

A flash loan is a type of uncollateralized borrowing popular on decentralized finance lending protocols among traders to quickly profit from arbitrage opportunities. However, exploiters often tap flash loans to destabilize and drain digital assets from DeFi protocols. CryptoRank provides crowdsourced and professionally curated research, price analysis, and crypto market-moving news to help market players make more informed trading decisions.

Once this happens, the receiver will see the funds in their wallet balance. Receive unique insights on promising crypto projects, and gain a deeper understanding of their team, technology, tokenomics, application, adoption, future outlook and technical analysis. An Ethereum-based token that is there to reward the community and become one of the most prominent and largest coins by market cap driven by the Platypus community. The Platypus team confirmed on Feb. 16 that the attacker exploited a “flaw in USP solvency check mechanism,” but the team did not initially provide further detail. This new report from the auditor sheds further light on how the attacker may have been able to accomplish the exploit.

We seek to achieve this through our comic, art, music, revolutionary cryptocurrency platform, exchange, coin, metaverse, shows and exclusive events. We are here to make a change through education, and through the use of blockchain technology. The Platypus team announced on Feb. 16 that the attack had occurred. It has attempted to contact the hacker and get the funds returned in exchange for a bug bounty.

An RSI reading under 30 indicates that the asset is currently undervalued, while an RSI reading above 70 indicates that the asset is currently overvalued. Flash loan attacks are a common phishing technique employed by threat actors, exploiting the company’s smart contract security. Once this is done, the attacker proceeds to borrow large sums of money without any collateral or security. After manipulating a crypto asset on one exchange, they then proceed to sell it on another, thus profiting from the price manipulation.

If you’re looking for a set of practical and insightful crypto market information and data, we have the analytics tools to suit your business needs. BitDegree Crypto Learning Hub aims to uncover, simplify & share cryptocurrency education with the masses. Based on the Learn and Earn principles, crypto newcomers, students & researchers are enabled to gather core crypto knowledge by collecting incentives while they learn.

Today’s PTP / Platypus Finance News for February 21, 2023

These are the project’s quantitative metrics of its official Reddit account that can be used to trace regular or artificial Social activity & growth within the project. These are the project’s quantitative metrics of its official Twitter account that can be used to trace regular or artificial Social activity & growth within the project. These are the project’s quantitative metrics of its official Telegram account that can be used to trace regular or artificial Social activity & growth within the project. These are the project’s quantitative metrics of its Organizational GitHub Public account that can be used to trace regular or artificial development activity & growth within the project. Publicly circulating amount of specific cryptocurrency coins/tokens that were mined or issued to date, and are not locked/staked . Market Capitalization is the overall value of all coins/tokens that have been mined or issued until now and are in circulation .

Using an exchange is often the most convenient, but you might have to go through an extensive know-your-customer process before accessing the platform. An attractive cryptocurrency project identified daily in our meetings using our strategy and in-depth analysis. The meetings include our team of research analysts and traders that gather each morning to discuss and analyse the latest news and projects. Tool’s and analysis on macroeconomic trends, google search trends, social media sentiment, cross chain event news and much more. To eliminate inefficiencies and corruption, the power must belong to the people!

Join millions, easily discover and understand cryptocurrencies, price charts, top crypto exchanges & wallets in one place. Founded by Doug Oldfield, the platform is an automated market maker that boosts Avalanche stablecoins’ efficiency and reduces temporary loss risk by offering a single-token mechanism. The Platypus Finance price page is just one in Crypto.com Price Index that features price history, price ticker, market cap, and live charts for the top cryptocurrencies.

Our intuitive interface includes real-time 7-day graphs, current prices and market caps, and percent change over time. Featuring rapid sort, search and refresh features, and support for 32 fiat currencies, Platypus Crypto enables casual and power users alike to monitor cryptocurrency assets on-the-go! Our customization options allow for the removal of 7-day graphs for a more compact feel and a dark theme. Platypus Crypto is an ad-free robust solution for tracking cryptocurrency assets. Featuring rapid sort, search and refresh features, and support for 33 fiat currencies, Platypus Crypto enables casual and power users alike to monitor cryptocurrency assets on-the-go!

Platypus attack exploited incorrect ordering of code, auditor claims

It is a quantitative metric calculating how many individual units of specific cryptocurrency coins/tokens were traded (bought & sold) within the last 24 hours. It’s a direct cryptocurrency’s supply & demand indicator, and is purely related to its market price. In addition to the simple moving average , traders also use another type of moving average called the exponential moving average . The EMA gives more weight to more recent prices, and therefore reacts more quickly to recent price action.

Bone ShibaSwap (BONE) has a Very Bullish Sentiment Score, is Rising, and Outperforming the Crypto Market Tuesday: What’s Next?

Let’s use a 1-hour candlestick https://coinbreakingnews.info/ as an example of how this type of price chart gives us information about opening and closing prices. The chart is divided into “candles” that give us information about Platypus’s price action in 1-hour chunks. Each candlestick will display PTP’s opening price, closing price, as well as the highest and lowest prices that Platypus reached within the 1-hour period. Most traders use candlestick charts, as they provide more information than a simple line chart.

On Thursday, Feb. 17, Platypus, a DeFi stablecoin swapping protocol on Avalanche, was exploited for $8.5 million. The exploit occurred via a flash loan attack that took advantage of a flaw in its USP solvency check mechanism. Platypus Finance is a form of digital cryptocurrency, also referred to as PTP Coin. Use this page to follow the Platypus Finance price live, cryptocurrency news, Platypus Finance market cap and updates. Create alerts, follow opinion and analysis and view real time market data. In addition to tracking price, volume and market capitalisation, CoinGecko tracks community growth, open-source code development, major events and on-chain metrics.