Hack history / 2023 / Hack or exploit

Platypus Finance

Hack or exploit on Oct 12, 2023 · Spot Price Manipulation

ATTACK TX CONFIRMED ON CHAINSOURCES DISAGREE ON DATE OR LOSS · 5 SOURCES

Lost

$2.1M

sources: $1.7M to $2.2M

Returned

$1.5M

71% of the loss, as a source states it

Rank

#676

among thefts by dollars lost

What happened

On October 12, 2023, Platypus Finance on Avalanche was exploited via three flashloan transactions totaling ~$2.2-2.23M. Attackers manipulated swap prices by altering slippage calculations across multiple liquidity pools, then draining value from the protocol.

Details

Date: Oct 12, 2023
Kind: Hack or exploit
Method: Spot Price Manipulation
How in: Price, oracle and governance
Target: DeFi protocol
Chains: Avalanche
Audit (rekt.news): out of scope

After the theft

Recovered or seized: yes, amount not stated
“Further updates will be communicated to the community in a timely manner." On October 13, Platypus Finance tweeted that it had recovered around 50k sAVAX and 7k AVAX from one of the exploiters successfully.” (SlowMist Hacked)
Returned by the attacker: yes, amount not stated
“On October 17, Platypus Finance announced that 90% of the stolen funds have been returned and that the net loss has been reduced to approximately 18,000 AVAX.” (SlowMist Hacked)
Recovered or frozen: $1.5M
“$1.7M taken, $167K after recovery or freezing” (Web3 Is Going Great)

Reported by

Related incidents

Platypus Finance 2023 · Hack or exploit · $50K
Platypus Finance 2023 · Hack or exploit · $8.5M
Jimbos Protocol 2023 · Hack or exploit · $7.5M
ParaSpace Lending V1 2023 · Hack or exploit · $5M
Zunami Protocol 2023 · Hack or exploit · $2.1M

Cite this page

SwanBluechip, "Platypus Finance hack, Oct 12, 2023: $2.1M lost", Crypto hack history, https://swan-hack-tracker.pages.dev/history/i/ht6b538998f7/ (data as of 2026-10-31).

Open in the full list All incidents