Pendle secured $105 million after a Penpie hack.
Attacker exploited $27 million; funds converted into 11,109 ETH.
Pendle, a well-known decentralized finance (DeFi) protocol, has announced that it successfully safeguarded around $105 million in funds following a recent cyber attack on Penpie, a yield optimization tool within the Pendle ecosystem. The incident occurred on Tuesday, targeting Penpie’s protocol and raising significant security concerns.
According to a post-attack report released early Wednesday, Pendle acted swiftly to contain the damage. The protocol’s contracts were paused immediately, preventing further exploitation.
Despite these efforts, the attacker succeeded in exploiting Penpie’s protocol, resulting in the theft of approximately $27.3 million. Lookonchain reported that the stolen assets were converted into 11,109 ETH. And, PeckShield, a blockchain security company, identified the exploit as a result of a malicious contract designed to artificially
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