Another DeFi Platform Hacked: Two Altcoin Prices Dropped Suddenly!

While new hacking incidents are added every day in the cryptocurrency market, Pendle-based DeFi protocol Penpie was subjected to a $27 million attack.

The attacker stole approximately $27 million worth of cryptocurrency in various types of staked Ethereum (ETH).

Stolen ETH types include wstETH, agETH, and rswETH, as well as Ethena’s sUSDE and wrapped USDC.

Pendle confirmed that it had identified a security vulnerability in the Penpie protocol and that it would continue to communicate closely with the team. Pendle stated that investors’ funds were safe at Pendle, but that it had temporarily paused all contracts as a precaution.

Following the hack, Penpie (PNP) experienced a massive drop of up to 40%. Pendle (PENDLE) was also affected by the hack, falling by around 8.5% in the last 24 hours.

Hacker Starts Transferring Funds to Tornado Cash!

Blockchain security firm PeckShieldAlert shared that the Penpie attacker first transferred 1000 ETH worth $2.44 million to Tornado Cash.

PeckShieldAlert then noted that the attacker transferred an additional 1,900 ETH worth an additional $4.5 million to Tornado Cash.

The attacker made another transaction in the last minutes, moving another 1000 ETH worth approximately $2.4 million to Tornado Cash.

PeckShieldAlert estimates that the attacker still has 7.1K ETH in his possession.

#PeckShieldAlert @Penpiexyz_io exploiter -labeled address has transferred 1K $ETH (worth ~$2.44m) to #Tornadocash & ~10.11K stolen $ETH (~$24.7m) remain parked at the address 0x2f2d…1C39 https://t.co/ifFr5S8uG3 pic.twitter.com/1uNDQqupDF

— PeckShieldAlert (@PeckShieldAlert) September 4, 2024

*This is not investment advice.