Penpie DeFi protocol suffers a $27 million hack, causing its token to drop 40%
Penpie, a decentralized finance (DeFi) protocol operating on Pendle’s platform, experienced a severe security breach on Wednesday, leading to a loss of $27 million in digital assets. Cyvers, a blockchain security firm, reported the hack after detecting unusual behavior associated with Penpie’s contracts. The hacker infiltrated Penpie’s system by exploiting a crypto mixing service, carrying out a malevolent transaction that enabled them to pilfer many tokens, such as staked Ethereum