{"id":28677,"date":"2024-09-06T21:45:50","date_gmt":"2024-09-06T18:45:50","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=28677"},"modified":"2024-09-06T20:15:04","modified_gmt":"2024-09-06T17:15:04","slug":"hacker-lauded-after-27m-crypto-theft-from-penpie-defi-protocol","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/hacker-lauded-after-27m-crypto-theft-from-penpie-defi-protocol\/","title":{"rendered":"Hacker Lauded After $27M Crypto Theft from Penpie DeFi Protocol"},"content":{"rendered":"<p>A recent $27 million hack on the decentralized finance (DeFi) protocol Penpie has garnered praise from a well-known figure in the crypto hacking community, the Euler Finance hacker, who sent an onchain message commending the act.<\/p>\n<p>On September 3, Penpie suffered a major exploit, leading to the loss of $27 million in digital assets. In response, the platform immediately halted all deposits and withdrawals. Within 24 hours of the breach, the Penpie hacker transferred $7 million through the crypto mixer Tornado Cash, a service used to anonymize transactions. Though often employed for privacy, such mixers are frequently utilized by hackers to launder stolen funds.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/hacker-lauded-after-27m-crypto-theft-from-penpie-defi-protocol\/#Commendation_from_the_Euler_Finance_Hacker_to_Penpie_Hacker\" title=\"Commendation from the Euler Finance Hacker to Penpie Hacker\">Commendation from the Euler Finance Hacker to Penpie Hacker<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/hacker-lauded-after-27m-crypto-theft-from-penpie-defi-protocol\/#August_Sees_Surge_in_Phishing_Attacks\" title=\"August Sees Surge in Phishing Attacks\">August Sees Surge in Phishing Attacks<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Commendation_from_the_Euler_Finance_Hacker_to_Penpie_Hacker\"><\/span>Commendation from the Euler Finance Hacker to Penpie Hacker<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Following the heist, the hacker behind the $195 million flash loan attack on Euler Finance in March 2023 sent a congratulatory onchain message to the Penpie hacker, praising their decision to keep the stolen funds. The message read:<\/p>\n<p>\u201cGood job, bro. I haven\u2019t seen a hack like this in a while. I\u2019m glad you kept all the money and didn\u2019t let them recover a single dollar. You won, they lost. Good job.\u201d<\/p>\n<p><em>Might interest you: <a href=\"https:\/\/coinengineer.net\/blog\/sakana-ai-announces-partnership-with-nvidia\/\">Sakana AI Announces Partnership with Nvidia!<\/a><\/em><\/p>\n<p>Ironically, the Euler Finance hacker didn\u2019t fare as well. After their attack, Euler Finance offered them a deal on March 15, 2023, to keep $20 million if they returned 90% of the stolen funds. The protocol also placed a $1 million bounty on information leading to the hacker&#8217;s arrest.<\/p>\n<p>By April 4, the Euler Finance hacker returned all recoverable funds, amounting to 90% of the total. As a result, the Euler Foundation called off the $1 million bounty.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"August_Sees_Surge_in_Phishing_Attacks\"><\/span>August Sees Surge in Phishing Attacks<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>In August alone, over 9,000 victims lost a total of $63 million to crypto phishing scams. Despite a decline in the number of victims compared to July, the total amount stolen skyrocketed by 215%, largely due to a single large-scale incident involving the theft of $55 million.<\/p>\n<p>On August 20, a wallet owner unknowingly signed a malicious transaction, transferring ownership of 55 million Dai, allowing scammers to make off with the funds.<\/p>\n<hr \/>\n<p><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A recent $27 million hack on the decentralized finance (DeFi) protocol Penpie has garnered praise from a well-known figure in the crypto hacking community, the Euler Finance hacker, who sent an onchain message commending the act. On September 3, Penpie suffered a major exploit, leading to the loss of $27 million in digital assets. In<\/p>\n","protected":false},"author":6,"featured_media":11625,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[8482,8483,8484],"class_list":["post-28677","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-penpie","tag-penpie-defi","tag-penpie-finance-hack"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Hacker Lauded After $27M Crypto Theft from Penpie DeFi Protocol - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/hacker-lauded-after-27m-crypto-theft-from-penpie-defi-protocol\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hacker Lauded After $27M Crypto Theft from Penpie DeFi Protocol - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"A recent $27 million hack on the decentralized finance (DeFi) protocol Penpie has garnered praise from a well-known figure in the crypto hacking community, the Euler Finance hacker, who sent an onchain message commending the act. On September 3, Penpie suffered a major exploit, leading to the loss of $27 million in digital assets. 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