Penpie Offers Hackers Bounty, ‘No Legal Actions if Funds Returned'

SubDAO Penpie is ready to negotiate a bounty to hackers and has released a message saying that no legal actions will be pursued if the stolen funds are returned.

To the hacker: We acknowledge your exploit of our protocol and believe there’s potential for a positive resolution that benefits all parties. Penpie is a community-driven project, and these funds mean a lot to our users. We are willing to negotiate a bounty for the safe return of…

— Penpie (@Penpiexyz_io) September 4, 2024

Earlier, today, we had reported about Penpie suffering an attack on its reward protocol and losing about $27 million.

Penpie’s negotiation comes after it dropped another message on X informing users that the project it is built on, Pendle has resumed operations but Penpie remains paused.

The team has reportedly repositioned their platform’s FE and were actively ensuring that users can securely withdraw their funds. As of now, it has come to attention that Penpie’s stolen amount was exchanged with $ETH and part of this $ETH amount has been transferred to Tornado Cash.

Ember CN has reported that Penpie was hacked and 27.8 million USD worth of assets were stolen due to a security vulnerability, mainly some LRT assets (wstETH/agETH/rswETH, etc.).

Courtesy: @EmberCN

Ember CN further added that, “Most of these stolen assets were exchanged by hackers for 11,109 $ETH (about 26.95 million USD), of which 1,000 $ETH (about 2.42 million USD) was laundered by hackers through Tornado Cash 1 hour ago. The initial funds of the address used by hackers to steal assets were also received from Tornado.”