Penpie, a decentralized finance (DeFi) protocol built on the tokenized yield platform Pendle, was reportedly hacked on Wednesday.
The hacker managed to siphon off approximately $27 million worth of crypto assets, including various forms of Ether (ETH), sUSDE from Ethena, and wrapped USDC stablecoin, from the protocol according to industry experts.
The hacker then converted the stolen assets to ETH mainly using the Li.fi network and transferred the profits to a new address, as can be seen from the data on Etherscan.
Prior to the attack, the hacker’s address received 10 ETH, equivalent to around $25,000, from the crypto mixer Tornado Cash.
