According to Cointelegrapg: In an unusual court verdict, cybercriminal brothers known as Mohammed M. and Benamar M. have walked free following their involvement in an $8.5 million flash loan attack on DeFi protocol, Platypus, according to a French court ruling. The hackers claimed to be 'ethical hackers', leading to their exoneration despite admitting to effectuating the theft.
The notorious breach took place on February 16, resulting in the thieves extracting $8.5 million from Platypus due to an exploitable code error which was then followed by a spontaneous withdrawal of all digital assets. Consequently, Platypus suspended its trading services until a resolution could be reached.
Binance’s security team, in conjunction with independent crypto investigators, was instrumental in tracing the stolen funds leading to the identification and apprehension of the brothers. The pair had been in custody since February 24.
In defense during the October 26 court hearing, the brothers expressed their intention to return the stolen funds in exchange for a 10% 'finders fee', closely mimicking common bug bounty practices. This approach had led to their acquittal, despite 7.8 million euros of the stolen crypto remaining inaccessible in a locked wallet.
The recent court proceedings are the latest chapter in Platypus' security saga. Notably, the platform fell victim to another flash loan exploit, suffering a further $2.2 million in losses. Blockchain firm, CertiK, revealed that this attack was executed in a three-part operation, draining various cryptocurrencies.
However, on a positive note, Platypus has successfully recovered 90% of the stolen funds following a mutual understanding with the accompanying hacker, serving as a reminder for increased vigilance in the crypto field.