Penpie Hacker Moves Stolen ETH to Laundering Address for Concealment
CryptoNewsTerminal Staff04 Sep, 2024
Penpie Hacker Moves Stolen ETH to Laundering Address for Concealment
Penpie, a decentralized finance protocol based on Pendle, recently fell victim to a cyberattack. According to the blockchain security firm PeckShield, the attacker has transferred 1,000 ETH, worth approximately $2.4 million, to a laundering address. This transfer is part of an attempt to obscure the trail of stolen funds and make it more difficult to recover them. The attacker's address currently holds a substantial amount of ETH, totaling 7,100 ETH. Security experts are monitoring the situation closely to track any further movement of funds and prevent the attacker from cashing out the stolen assets. The incident highlights the ongoing threat of cyberattacks in the decentralized finance space and underscores the importance of robust security measures to protect user funds.
