February was a bad month for DeFi platforms after hackers stole over $21 million across seven hacks, as noted by DefiLlama.
, one of the largest in the month was the flash loan reentrancy attack on Platypus Finance, which led to $8.5 million of funds lost.
Blockchain security firm PeckShield estimated the losses to be around $120 million, however, it was later revealed hackers reportedly onlyof roughly $3 million on Feb. 2 through a reentrancy attack, where attackers used a malicious smart contract to drain funds from a target with repeated withdrawal orders.
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