Pendle's Quick Response Prevented $105 Million Loss
CryptoNewsTerminal Staff04 Sep, 2024
Pendle's Quick Response Prevented $105 Million Loss
Pendle's swift actions in containing the Penpie protocol hack prevented an additional $105 million in losses, according to The Block. Pendle paused the contract immediately, which effectively contained the hack. This decisive action came after Penpie suffered a $27 million exploit, highlighting the importance of prompt response in mitigating cyber threats. Pendle's proactive measures demonstrate their commitment to protecting user funds, reinforcing their reputation for security and reliability in the DeFi space.
