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

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.

Interpretation of this information:

The stable currency trading project Platypus was recently attacked by hackers, resulting in the loss of about $9 million. However, blockchain security company BlockSec has recovered at least $2.4 million of the stolen funds through the use of their visualization tool, MetalSleuth. By exploiting vulnerabilities in the attack contract, BlockSec was able to transfer funds from the attacker’s contract to the Platypus account. It was discovered that most of the stolen funds remained in the attacker’s contract address, and that $8.5 million was frozen due to the attacker’s failure to implement the cash withdrawal function in their contract.

The first keyword in this message is “Platypus.” Platypus is the name of the stable currency trading project that was attacked by hackers. This incident highlights the importance of security in the cryptocurrency industry and the need for companies like BlockSec to help protect against such attacks.

The second keyword is “BlockSec.” BlockSec is a blockchain security company that was able to recover at least $2.4 million of the stolen funds. They did this by using their visualization tool, MetalSleuth, to exploit vulnerabilities in the attack contract and transfer funds from the attacker’s contract to the Platypus account. BlockSec’s success in recovering some of the stolen funds demonstrates the potential of blockchain security companies to help prevent and mitigate cyber attacks in the cryptocurrency industry.

The third keyword is “MetalSleuth.” MetalSleuth is a visualization tool developed by BlockSec that was used to help recover the stolen funds from the Platypus attack. This tool allowed BlockSec to identify vulnerabilities in the attacker’s contract and use the callback function to transfer funds to the Platypus account. The success of MetalSleuth in recovering some of the stolen funds highlights the importance of advanced technological tools in the fight against cyber attacks in the cryptocurrency industry.

In conclusion, the message highlights the vulnerability of cryptocurrency projects to cyber attacks and the need for increased security measures. The use of blockchain security companies like BlockSec and their advanced technological tools such as MetalSleuth can help prevent and mitigate the impact of cyber attacks, as demonstrated in the recovery of some of the stolen funds from the Platypus attack. The three keywords in this message – Platypus, BlockSec, and MetalSleuth – highlight the key players and technologies involved in the fight against cyber attacks in the cryptocurrency industry.