Penpie protocol exploited, suffers $27M loss

Cryptocurrency hacks have stolen $1.21 billion in funds so far in 2024, a 15.5% increase from 2023. 

The Penpie protocol—an independent decentralized finance protocol built atop Pendle—suffered an exploit on Sept. 3, 2024, and was drained of $27 million in client funds at the time of this writing.

Onchain sleuths traced the offending transaction back to an address ending in “bb7,” which was one of multiple addresses used by the hacker. As a precaution, Penpie has suspended all deposits and withdrawals at this time.

Source: BlockSec

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Cryptocurrency hacks have stolen $1.21 billion in funds so far in 2024, a 15.5% increase from 2023. 
The Penpie protocol—an independent decentralized finance protocol built atop Pendle—suffered an exploit on Sept. 3, 2024, and was drained of $27 million in client funds at the time of this writing.Onchain sleuths traced the offending transaction back to an address ending in “bb7,” which was one of multiple addresses used by the hacker. As a precaution, Penpie has suspended all deposits and withdrawals at this time.Source: BlockSecRead more