DeFi Under Siege: $197M Hacker Commends Penpie Protocol Breacher for $27M Heist
- The Penpie protocol, part of the Pendle ecosystem, lost over $27 million in Ethereum and stablecoins.
- The Euler Finance hacker, who stole $197 million in March 2023, praised the Penpie hacker for not returning the stolen assets.
- Penpie’s stolen assets were converted to ETH and partially laundered through Tornado Cash.
- Cybersecurity expert Kankodu admitted partial responsibility for the Euler Finance breach due to a bug introduced during a fix.
A notable insight is the Euler Finance hacker’s approval of the Penpie hacker’s decision to retain the stolen assets, reflecting a growing boldness and camaraderie among cybercriminals targeting DeFi platforms.
These breaches highlight the urgent need for enhanced security measures in the DeFi sector. While the recovery of funds by Euler Finance offers some hope, the industry must prioritize robust defenses and collaboration to mitigate future risks and ensure the stability of decentralized financial systems.
