Safe

Pendle

Penpie

DeFi

Million

<p><strong>Key points</strong>:</p>   
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 <li><em>DeFi protocol Pendle says it saved around $105 million from being further drained following a $27 million hack of Pendle-based yield optimizer Penpie.</em></li>   
 <li><em>In a post-mortem, the project said funds on Pendle were not at risk, and normal operations have since resumed, though Penpie remains paused.</em></li> 
</ul>   
<h5 class="wp-block-heading"><strong>Pendle hack safeguarded $105M in funds after Penpie exploit, though $27.3M was stolen. Pendle resumed normal operations and offered negotiations with the hacker.</strong></h5>   
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<h2 class="wp-block-heading" id="strong-pendle-hack-105-million-safeguarded-strong"><strong>Pendle Hack: $105 Million Safeguarded</strong></h2>   
<p>DeFi project <a href="https://x.com/pendle_fi/status/1831168623634993402" target="_blank" rel="noreferrer noopener">Pendle has secured around $105 million in funds</a> following a hack of the ecosystem’s yield optimizer Penpie. In a postmortem report, Pendle explained that a quick contract pause prevented further breaches.</p>   
<p>The project stressed that normal operations have been restored and reassured users that their funds are safe. The security breach stemmed from a unique feature that allows permissionless listings, which the attacker exploited.</p>   
<p class="has-background" style="background-color:#222222"><strong>Read more:<a href="https://coincu.com/242737-revolut-paused-some-crypto-services-by-fca/" target="_blank" rel="noreferrer noopener"> </a><a href="https://coincu.com/271741-bitgo-bit-global-venture-established/" data-type="link" data-id="https://coincu.com/271741-bitgo-bit-global-venture-established/" target="_blank" rel="noreferrer noopener">Pendle Domain Hijacking Be Warned, User Funds Are Safe</a></strong></p>   
<h2 class="wp-block-heading" id="strong-27-3-million-stolen-in-penpie-exploit-strong"><strong>$27.3 Million Stolen in Penpie Exploit</strong></h2>   
<p>Despite securing most of the funds, the hacker managed to <a href="https://x.com/lookonchain/status/1831142810206310466" target="_blank" rel="noreferrer noopener">steal $27.3 million</a> by launching a malicious “evil market” contract that inflated the staking balance on <a href="https://x.com/Penpiexyz_io/status/1831058385330118831" target="_blank" rel="noreferrer noopener">Penpie</a>. This allowed the attacker to claim rewards fraudulently.</p>   
<p>In response, <a href="https://x.com/Penpiexyz_io/status/1831157212963598555" target="_blank" rel="noreferrer noopener">Penpie</a> paused its protocol and was willing to negotiate with the hacker, offering security, no legal action, and bounty rewards in exchange for cooperation.</p>   
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    <td><em><strong>DISCLAIMER</strong>:&nbsp;The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.</em></td>
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Pendle Hack Saved $105 Million From Further Draining Amid Attack

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