French national police have arrested two cybercriminals accused of scamming more than $9 million through the hacking of crypto platform Platypus Finance on February 16. Platypus Finance and French authorities received help from exchange Binance and analyst ZachXBT to trace the identities of the hackers.
Platypus Finance hackers arrested in France
French authorities have busted a gang of cybercriminals behind the hack of U.S. cryptocurrency company Platypus Finance. According to the French national police,, two individuals have been arrested and summoned in connection with investigations into the hacking of Platypus Finance which had made Lost $9.1 million to this cryptocurrency platform. During the arrest of the two hackers, 210,000 euros in cryptocurrency were seized by the police.
As a reminder, the hack of the crypto Platypus Finance occurred on February 16th. This hacking has caused the company to lose nearly $9.1 million. As a result of this attack, Platypus USD, the stablecoin issued by the company lost more than halqf of its value.
The hack of Platypus Finance, a DeFI protocol running on the Avalanche network, confirms the 2022 trend. Indeed, the 2022 report from Chainalysis has clearly shown that DeFi protocols are particularly vulnerable to hacks.
Binance and ZachXBT helped Platypus Finance track down hackers
The company Platypus Finance, officially reacted to the arrest of the two hackers by the French police. The platform highly commended the police for their swift reaction. Platypus Finance also thanked the cryptocurrency exchange Binance as well as the analyst ZachXBT. These two actors have notably helped the hacked company and the police to trace the identities of the hackers.
The hack of the crypto platform Platypus Finance shows that working in synergy can help fight crypto scams effectively. This coordinated action succeeded in preventing the possible bankruptcy of another player in the crypto ecosystem. Platypus Finance needs to improve its security measures to prevent such incidents from happening in the future. Crypto users also need to ensure that they are in control of their funds..
I dream of a world where every citizen has total control over themselves, including their finances. I believe that Bitcoin is one of the tools that will achieve this revolution. Since 2019, I am learning about this cryptocurrency and spreading the word around.
