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Mar 2, 2023
by Sujit Kumar
Following A $9.1m Exploit, Platypus Finance Creates A Compensation Portal For Its Users
Platypus Finance, a decentralised finance (DeFi) protocol, has built a portal that lets users see how much the platform owes them after the $9.1 million exploit. A flash loan attack on the DeFi protocol caused the Platypus USD (USP) stablecoin to break its connection to the US dollar. Omniscia, a Platypus auditor that the attack was possible due to code in the wrong order.
DeFi launches compensation page for after cyber-attacks to help assess payouts
A page was launched that allows viewers to check the platform's compensation potential. There are a few sections on the page that help users figure out how much they owe after the exploit. This includes an overview, a net value before the attack and adjustments after the attack.
The team also pointed out that anyone finds calculation errors can submit a form and evidence to back up their claim. The DeFi protocol stated that the calculations would be completed once all feedback had been received. After that, users will be able to claim the first compensation in March.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more
than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.