Mohammed and Benamar MThe two brothers were acquitted in a landmark case in French judicial history, accused of using Platypus, an avalanche-based automated market maker (AMM) platform. The presiding judge said the men had simply interacted with a smart contract that gave "more than it had to give."
Two individuals implicated in France in connection with the exploitation of Platypus, a stablecoin-focused automated market-making (AMM) platform built on **Alanche. The Paris Court of Justice quashed the case against Mohammed and Benamar MCharges of access to computer systems, money laundering and concealment by the two brothers, who exploited a vulnerability to steal more than $9 million from Platypus' smart contract.
The two in February** never denied that they took advantage of the platform. Instead, Mohammed acknowledged the facts and argued that he acted as a "white hat hacker" to help the platform correct its mistakes.
Mohammed said he took advantage of the Platypus smart contract's emergency withdrawal feature, returned the funds later, and won at least 10% of the prize, a trend that has been common in recent hacks.
However, he lost control of an address that currently holds nearly $8.5 million and cannot be recovered. In a later attempt, he managed to withdraw over $280,000 from the smart contract and send it to a mixing service to mask the funds**, finally sending $13,000 to his brother Benamar.
According to the judge in charge, the court dismissed the allegation of access to the automated data processing system because Mohammed had only interacted with a smart contract that provided "more than it should have been". Charges of money-laundering and concealment were dismissed.
Nonetheless, the judge dismissed the defense's arguments about ethical hacking, noting that the defendant could be held liable in the subsequent civil lawsuit.
According to Le Monde, he stated:
You still have debts related to the loan, and the platypus may work against you in a civil lawsuit. Therefore, the decision is not simple, and the charges do not meet the criminal level.
Platypus has suffered three attacks this year, with losses of more than $11 million.
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