https://www.coindesk.com/markets/2023/02/16/usp-stablecoin-loses-dollar-peg-as-defi-protocol-platypus-suffers-85m-attack/USP Stablecoin Loses Dollar Peg as
DeFi Protocol Platypus Suffers
$8.5M Attack
"The flash loan attack caused Platypus Finances native stablecoin to fall to 48 cents from $1. The potential loss is $8.5 million, according to blockchain security firm CertiK.
Decentralized finance (DeFi) protocol Platypus Finance suffered a flash-loan attack on Thursday, blockchain security firm CertiK tweeted. The potential loss in the exploit is $8.5 million.
Platypus USD (USP), the protocols stablecoin, lost its price peg to the dollar as a result of the exploit, falling to 48 cents from its $1 anchor, according to CoinGecko.
"For now all operations are paused until we get more clarity," a Platypus team member posted in the protocol's Discord server."