{"id":78959,"date":"2024-05-18T07:49:07","date_gmt":"2024-05-18T11:49:07","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=78959"},"modified":"2024-05-18T07:49:35","modified_gmt":"2024-05-18T11:49:35","slug":"pendle-token-theft-soars-5-62m-lost-in-latest-permit-phishing","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/pendle-token-theft-soars-5-62m-lost-in-latest-permit-phishing\/","title":{"rendered":"Pendle Token Theft Soars, $5.62M Lost in Latest Permit Phishing"},"content":{"rendered":"\n

Pendle token thefts rise to $10 million due to phishing<\/a>. Recent loss of $5.62 million highlights the need for yield token approval vigilance. The market remains resilient as Pendle climbs.<\/p>\n\n\n\n

\"Pendle<\/figure>\n\n\n\n

The Pendle token ecosystem has seen a dramatic increase in thefts in recent months, with security breaches resulting in the loss of more than $10 million in Pendle yield tokens. <\/p>\n\n\n\n

However, this concerning pattern emphasizes the immediate necessity for increased caution among users of cryptocurrencies.\u00a0<\/p>\n\n\n\n

Users have inadvertently authorized malicious entities, facilitating most of these thefts via fraudulent channels. <\/p>\n\n\n\n

These occurrences underscore the critical significance of conducting thorough examinations of approval requests regarding yield tokens.<\/p>\n\n\n\n

Escalating Theft Incidents Highlight Security Vulnerabilities<\/h2>\n\n\n\n

In the most recent occurrence of this concerning sequence of robberies, an individual was the unfortunate recipient of Pendle yield tokens valued at $5.62 million. <\/p>\n\n\n\n

The loss occurred\u00a0when the user, identifiable by the address 0xe..f05\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, accidentally signed a fraudulent signature masquerading as a valid permit.\u00a0<\/p>\n\n\n\n

Using this fraudulent activity, the address identified as 0xa\u2012a6f <\/use><\/svg><\/span><\/a>could obtain the victim's tokens without authorization.<\/p>\n\n\n\n

This specific instance is a component of a more significant trend of robberies that has escalated in severity over the last week, including four noteworthy phishing incidents that have each caused damages surpassing $1 million. <\/p>\n\n\n\n

The cumulative consequence of these occurrences is an enormous loss of $9.04 million. <\/p>\n\n\n\n

Most of these theft have pertained to Pendle yield tokens, with fraudulent permit phishing signatures constituting the predominant method of attack. <\/p>\n\n\n\n

This disturbing pattern emphasizes the critical urgency for the cryptocurrency community to adopt more vigilant users and implement robust security protocols to counteract these sophisticated phishing schemes.<\/p>\n\n\n\n

Market Resilience and Influential Endorsements<\/h2>\n\n\n\n

Notwithstanding the persistent security challenges, Pendle (PENDLE) has demonstrated exceptional fortitude within the market. <\/p>\n\n\n\n

At the time of writing, the current price of Pendle is $4.99, an increase of 8.15% within the previous twenty-four hours and 11.26% within the last week. <\/p>\n\n\n\n

With 150 million PENDLE in circulation and a 24-hour trading volume of $124,016,558.79, the token has a market capitalization of $768,389,937. <\/p>\n\n\n\n

The favourable market performance signifies robust investor confidence, which strategic investments and high-profile endorsements have reinforced.<\/p>\n\n\n\n

An example of such a prominent individual is Arthur Hayes, a co-founder of BitMEX<\/a>, whose recent strategic investment in Pendle has garnered considerable attention.\u00a0<\/p>\n\n\n\n

Meanwhile, Hayes detailed his cryptocurrency investment approach for the month of May in his article entitled “Mayday,” wherein he disclosed his acquisition of PENDLE tokens valued at $500,000.\u00a0<\/p>\n\n\n\n

Given his impeccable prognostications and market insight, Hayes' audacious action has generated extensive discourse among cryptocurrency community members.<\/p>\n\n\n\n

His recent price increase and reaffirmation of the token's market potential are reflected in the perception that his investment in Pendle constitutes a significant vote of confidence. <\/p>\n\n\n\n

As Hayes's actions continue influencing market perceptions and trends, market analysts and investors closely observe them. <\/p>\n\n\n\n

His participation underscores Pendle's potential and indicates broader market sentiment, eliciting both censure and esteem from the cryptocurrency community.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Pendle token thefts rise to $10 million due to phishing. Recent loss of $5.62 million highlights the need for yield token approval vigilance. The market remains resilient as Pendle climbs. The Pendle token ecosystem has seen a dramatic increase in thefts in recent months, with security breaches resulting in the loss of more than $10 […]<\/p>\n","protected":false},"author":56,"featured_media":78962,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21,11476],"tags":[19605,19606],"class_list":["post-78959","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-hacks-and-scams","tag-pendle","tag-pendle-price"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/05\/Pendle-Token-Theft-Soars-5.62M-Lost-in-Latest-Permit-Phishing.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/78959","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=78959"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/78959\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/78962"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=78959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=78959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=78959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}