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Pendle Token Thefts Increase, $5.62 Million Lost in Recent Permission Phishing
In recent months, the Pendle token ecosystem has seen a significant increase in thefts, with over $10 million worth of Pendle tokens stolen due to security breaches. This alarming trend highlights the pressing need for greater vigilance cryptocurrency users. Most of these thefts have been facilitated through fraudulent means, where users unintentionally grant permissions to malicious entities. These incidents highlight the critical importance of meticulously reviewing any approval request related to yield tokens.
Escalating theft incidents highlight security vulnerabilities
The most recent incident in this troubling series of thefts involved a victim who lost $5.62 million in Pendle Yield Tokens. This leak occurred when the user, identified by the address 0xe..f05, inadvertently signed a phishing signature disguised as legitimate permission. This deceptive act enabled the scammer, identified by the address 0xa…a6fto gain unauthorized access to the victim’s tokens.
This particular case is part of a larger pattern of thefts that has intensified over the past week, with four significant phishing incidents, each resulting in losses in excess of $1 million. These events collectively led to a staggering total loss of $9.04 million. Most of these thefts involved Pendel they produce tokens and the predominant attack method has been through fraudulent authorization phishing signatures. This disturbing trend highlights the urgent need for robust security measures and increased user awareness within the cryptocurrency community to combat these sophisticated phishing schemes.
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Market resilience and influential confirmations
Despite ongoing security challenges, Pendle (PENDLE) has shown remarkable resilience in the market. As of today, Pendle is priced at $4.99, reflecting an increase of 8.15% over the past 24 hours and an increase of 11.26% over the past week. THE token It boasts a 24-hour trading volume of $124,016,558.79 and a circulating supply of 150 million PENDLE, with a market capitalization of $768,389,937. This positive market performance indicates strong investor confidence, which has been further strengthened by high-profile sponsorships and strategic investments.
One such influential figure is Arthur Hayes, co-founder of BitMEX, who recently attracted a lot of attention with his strategic investment in Pendle. In his article titled “Mayday,” Hayes outlined his cryptocurrency investment strategy for May, revealing his purchase of $500,000 worth of PENDLE tokens. Hayes’ bold move has sparked widespread discussion within the crypto community, as he is renowned for his market analyzes and accurate predictions.
Its investment in Pendle is perceived as a strong vote of confidence, which contributes to the recent price increase and strengthens the token’s potential in the market. Investors and market analysts are closely monitoring Hayes’ actions, which continue to shape market perceptions and trends. His involvement not only highlights Pendle’s potential, but also serves as a barometer for broader market sentiment, attracting both scrutiny and admiration from the crypto community.
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