Ethereum

<p>Penpei, a decentralized finance (DeFi) protocol built upon Pendle, suffered a significant setback on Wednesday when it lost over $27 million in a <a href="https://cryptotale.org/defi-user-loses-55-million-in-dai-to-phishing-attack/" rel="noopener noreferrer nofollow">phishing attack</a>. With its in-house monitoring system, the platform took subsequent steps to defend Pendle and Pencosystem from further attacks.</p><h2 id="header-0">Penpie Funds Made as ETH</h2><p>The platform released an official statement on X for its users, informing them to withdraw their assets as soon as possible. Further, they urged all users to revoke approvals to their contracts on their site until the issue was resolved to prevent further asset loss.</p><p></p><p>The exploit allowed the attacker to drain funds by creating a malicious contract, ultimately losing millions in user assets. Some of the stolen funds were converted to Ethereum (ETH). Around 1,000 ETH worth approximately $24.7 million were laundered via Tornado Cash to cover up the online trial.</p><h2 id="header-1">Pendle Funds Remain Safe</h2><p>On the other hand, following the incident, Pendle, while not directly attacked, also took precautionary measures by temporarily halting its contract operations with Penpie. Additionally, it actively safeguarded over $105 million from further attacks. Pendle assured its users that their funds remained secure and highlighted their commitment to closely monitoring the situation.</p><p><a href="https://cryptotale.org/penpie-loses-27m-to-hackers-pendle-funds-remain-secure/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a></p><p><strong>Visit the links for more information </strong><a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|</p>

Penpie Loses $27M to Hackers; Pendle Funds Remain Secure

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