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Will Pendle Finance suffer another exploit by December 31, 2024?
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Resolution / Starting Odds
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No • 50%
Official announcement from Pendle Finance or major news outlets
Story
Pendle Finance Pauses Contracts After $27-$28 Million Penpie Exploit
Sep 3, 2024, 08:15 PM
Pendle Finance has confirmed that funds on its platform remain secure despite a security compromise in Penpie, an independent protocol built on top of Pendle. Penpie was exploited, resulting in a loss exceeding $16 million, including $7,879,029.18 in wstETH, $2,517,458.57 in sUSDe, $3,409,021.04 in agETH, and $2,226,244.80 in rswETH. The total amount drained is reported to be between $27 million and $28 million. The root cause of the exploit was identified as the introduction of an 'evil market' used to inflate values. As a precaution, Pendle has temporarily paused all smart contracts. Forta Network detected the incoming attack 40 minutes before the exploitation.
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Similar markets
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Penpie improves smart contract security • 25%
Pendle improves smart contract security • 25%
Both improve smart contract security • 25%
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Penpie announces partnerships • 25%
Pendle announces partnerships • 25%
Both announce partnerships • 25%
No partnerships announced • 25%
