In February 2023 there were more attacks than in January with an approximate loss of $49,400,000
as reported CertiK in their monthly report
The Algorand ecosystem has been feeling shockwaves after over $9.2 million USD was stolen from 17 wallets created on MyAlgo, Algorand’s leading desktop wallet.
The second major case was Platypus, a DeFi stablecoin swapping protocol on Avalanche, which was exploited for $8.5 million. The exploit occurred via a flash loan attack that took advantage of a flaw in its USP solvency check mechanism.