Bitcoin News and Finance

Platypus Exploiters Acquitted of Wrongdoing in Landmark Case

Mohammed and Benamar M., two brothers accused of exploiting Platypus, an avalanche-based automated market maker (AMM) platform, were acquitted of any criminal wrongdoing in a landmark case for French justice. The judge in charge stated that the individuals just interacted with a smart contract that gave “more than it had to give.”

Platypus Hackers Acquitted After Perpetuating $9 Million Exploit

Two individuals linked to the exploit of Platypus, a stablecoin-focused automated market-making (AMM) platform built on top of Avalanche, have been acquitted of criminal wrongdoing in France. The Paris Judicial Court dropped charges of accessing a computer system, money laundering, and concealment for Mohammed and Benamar M., two brothers who managed to siphon over $9 million from Platypus’ smart contract using an exploit.

The two individuals arrested in February never denied that they exploited the platform. Instead, Mohammed acknowledged the facts, arguing that he had acted as a “white hat hacker” to help the platform correct its bugs.

Mohammed stated he exploited the emergency withdrawal function of Platypus’ smart contract to return the funds later and win a bonus of at least 10% of the amount involved, a trend that has become common in recent hacking attempts.

However, he lost control of an address that now holds almost $8.5 million that is now unrecoverable. In a later attempt, he managed to withdraw more than $280,000 from the smart contract, sending it to a mixing service to obscure the source of the funds and finally sending $13,000 to his brother, Benamar.

The court dismissed the charge of accessing an automated data processing system, given that Mohammed just interacted with a smart contract that gave “more than it had to give,” according to the judge in charge. Money laundering and concealment charges were also rejected in consequence.

Nonetheless, the judge rejected the defense’s thesis of ethical hacking, stating that the defendants might be liable in a subsequent civil complaint.

According to Le Monde, he stated:

You still have a debt linked to the loan, and Platypus will probably turn against you in civil proceedings. This decision is therefore not simple, the charges do not hold up on a criminal level.

Platypus has suffered three exploits this year, losing over $11 million in these actions.

What do you think about the decision in Platypus’ exploit case? Tell us in the comments section below.

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Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

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Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r

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