Platypus

Arbitrage attack

Estimated loss

$50.0K

VERDICT —UNRATED

Verdict pending. Auto-ingested incidents are reviewed before a public verdict is rendered.

▰ METHOD

Undisclosed

Root cause

Root-cause analysis not yet published. The incident description below contains all currently available signal — review the attack transaction directly for definitive forensics.

Forensic narrative

The Avalanche project Platypus has been attacked again. According to the analysis of SlowMist, since the price difference between the two pools was not taken into account during the token exchange via CoverageRatio, it resulted in users being able to arbitrage by depositing USDC and then withdrawing more USDT. Arbitrageurs have arbitraged around 50,000 USDC in this way. Attack method (per SlowMist): Arbitrage attack. Reported loss: $ 50,000.

Primary source

https://snowtrace.io/address/0xc64afc460290ed3df848f378621b96cb7179521a ↗

Sourced from

slowmist

Technical record