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  • DeFi Protocol Penpie Exploited for $27M of Crypto Assets; PNP Token Craters 40%
  • Crypto

DeFi Protocol Penpie Exploited for $27M of Crypto Assets; PNP Token Craters 40%

cryptovert September 4, 2024 1 min read

Decentralized
finance
(DeFi)
protocol
Penpie,
built
on
top
of
tokenized
yield
platform
Pendle,
suffered
an
exploit
on
Wednesday,

crypto


observers

reported.

The
alleged
exploiter
drained
roughly
$27
million
of
crypto
assets
including
various
types
of
staked
ether

(ETH)
,
Ethena’s
sUSDE
and
wrapped
USDC
stablecoin
from
the
protocol,

blockchain
data

shows.
Later,
it
converted
the
proceeds
to
ETH
using
predominantly
Li.fi
and
forwarded
to
asset
to
a

new
address
,
according
to
Etherscan
data.

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