Duo Behind $9M Platypus Exploit Acquitted by Paris Court: Report

Charges were dropped after one of the accused argued he was an "ethical hacker," according to French news publication Le Monde.

AccessTimeIconDec 4, 2023 at 11:49 a.m. UTC
Updated Mar 8, 2024 at 5:57 p.m. UTC

Two men involved in an attack on decentralized finance (DeFi) protocol Platypus were acquitted by a Paris court, French news publication Le Monde reported Friday.

The duo was arrested in February over the exploit, which saw $9 million worth of crypto stolen. Later that month, Platypus recovered some of that sum and said it intended to return at least 63% of the funds to users.

The court chose not to proceed with the charges after one of the hackers – identified by Le Monde as Mohammed M – argued that he'd acted in good faith and was an "ethical hacker" taking the "endangered funds" to be returned to the protocol later. The report said he'd hoped to get a bonus of 10% of the total sum taken from the company.

The court reportedly dropped the charges of money laundering and receiving stolen funds as the criminal charges did not hold up in court. Platypus can still pursue charges against the suspects in the civil court, the court said.

CoinDesk has reached out to Platypus for comment.

Edited by Sandali Handagama.


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Camomile Shumba

Camomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.