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Home»ADOPTION NEWS»Platypus financial hacker cleared of criminal charges: Le Monde
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Platypus financial hacker cleared of criminal charges: Le Monde

By Crypto FlexsDecember 3, 20232 Mins Read
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Platypus financial hacker cleared of criminal charges: Le Monde
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Those responsible for the $8.5 million hack of Platypus Finance, an Automated Market Maker (AMM) protocol, in February 2023. avalanche Avex

-2.40%
A French court cleared him of criminal charges, according to a report from . world.

The defendants, identified by Le Monde as brothers Mohammed and Benamar M., are: be arrested Just a week after the hack occurred, information from cryptocurrency detectives ZachXBT and Binance helped lead French authorities to the brothers.

According to Le Monde, French authorities have charged 22-year-old Mohamed with several charges related to the attack, while his older brother is accused of shoplifting. According to Le Monde, prosecutors demanded five years in prison for Mohamed.

However, the defendants were acquitted, with Mohammed claiming to be an “ethical hacker”, hoping to obtain funds so he could later return them to the protocol and receive a bonus equal to 10% of the total amount.

In the process flash loan attack, Mohammed accidentally locked away millions of dollars in stolen funds and was only able to recover about $270,000. Platypus was able to recover $2.4 million in USDC. anti-hacking also.

The tribunal’s judges ruled that charges relating to unauthorized access to computer systems did not apply to Mohammed because he was accessing publicly available smart contracts. Moreover, the court ruled that Mohammed’s use of Platypus’ “emergency withdrawal” smart contract, which had exploitable vulnerabilities, did not amount to fraud.

According to Le Monde, the tribunal’s judges also dismissed charges related to money laundering and receiving stolen property because fraud charges could not be applied. But the judges also reminded the brothers that Platypus could still pursue them in civil court, and said that although criminal charges would not be entertained, the decision was not “carte blanche.”


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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