Pendle

Penpie

DeFi

Million

Seal

<ul class="wp-block-list news-points">
 <li>Pendle swiftly halted contracts, averting a $105M loss due to a breach at Penpie protocol.</li>
 <li>Collaboration with Seal 911 and security experts confined the breach, securing Pendle’s ecosystem.</li>
 <li>Pendle ensured ecosystem integrity by engaging with protocols using PTs as collateral.</li>
</ul>
DeFi platform Pendle successfully thwarted a potential loss of roughly $105 million stemming from an alleged security breach at Penpie, an independent protocol built on Pendle’s infrastructure.
The incident, which unfolded over several hours, triggered a swift and coordinated response, culminating in the temporary pausing of contracts to prevent further unauthorized withdrawals.
According to Pendle, the first signs of the breach were detected at 17:46 UTC, leading to increased vigilance by the Pendle team. The first attack occurred at 18:23 UTC at Penpie, prompting immediate defensive actions.
By 18:45 UTC, all Pendle contracts were paused, a crucial move that helped prevent additional asset losses from Penpie.
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 Post Mortem Earlier today, a security breach targeting Penpie led to some loss of funds. In response, Pendle promptly paused our contracts, effectively safeguarding ~$1…
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The post <a href="https://coinedition.com/pendle-saves-105-million-in-defi-exploit-halts-penpie-hack/" rel="noopener noreferrer nofollow">Pendle Saves $105 Million in DeFi Exploit, Halts Penpie Hack</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Pendle Saves $105 Million in DeFi Exploit, Halts Penpie Hack

Coin Edition

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