In recent months, there’s been a worrying surge in thefts within the Pendle token ecosystem, totaling over $10 million in stolen Pendle yield tokens due to security breaches. This highlights the urgent need for cryptocurrency users to be extra vigilant.
The latest incident in this string of thefts saw a victim lose $5.62 million in Pendle yield tokens. The user, known as 0xe..f05, mistakenly authenticated a phishing signature, granting 0xa…a6f unauthorized access to their tokens.
This pattern of theft has intensified over the past week, with four major phishing incidents resulting in losses of over $1 million each, totaling $9.04 million. Most of these thefts involve Pendle yield tokens and are executed through fraudulent permit phishing schemes.
Currently priced at $4.99, it has seen an 8.15% increase in the last 24 hours and an 11.26% increase over the past week, with a 24-hour trading volume of $124,016,558.79 and a circulating supply of 150 million PENDLE, resulting in a market cap of $768,389,937.
One notable endorsement comes from Arthur Hayes, co-founder of BitMEX, who recently made headlines with his strategic investment in Pendle. In his article titled “Mayday,” Hayes shared his cryptocurrency investment strategy for May, revealing his purchase of $500,000 worth of PENDLE tokens.
Hayes’ investment is seen as a vote of confidence in Pendle, contributing to its recent price surge and reinforcing its potential in the market. Investors and analysts are closely watching Hayes’ actions, which influence market perceptions and trends.
Also Read: Crypto Scammer Returns Most of Stolen Millions After Negotiations
