Pendle Hack

TOTAL LOST $1.4M
Medium Phishing

Summarize with AI

ChatGPT Perplexity Claude Grok
Affected Chain 2024 Incident surface
Recovered - No recovery reported
All-Time Rank #750 By amount stolen
Auditors 1 Prior security audit

Incident Overview

Quick Summary

Jun-19-2024 Pendle user lost $1.4 million being a victim of a phishing scam.

Block Data Reference

Exploiter:

https://etherscan.io/address/0x0000db5c…e70000

Victim:

https://etherscan.io/token/0xa9355a5d…fa5694?a=0x62df98d3…5802ee

Funds withdrawal:

https://etherscan.io/tx/0x54a5fb32…240b24

This is classified as a Phishing Attacks . Compare similar hacks →

Incident Report

Protocol / Project Pendle
Date of Incident
Attack Technique Phishing
Classification Other
Primary Source View Post-Mortem

Protocol Information

Protocol Type Yield
Official Website pendle.finance/
Protocol Twitter/X @pendle_fi
Team Anonymous
Source Code Unverified

Market Context at Time of Hack

Token Categories
DeFi Ethereum Ecosystem Olympus Pro Ecosystem Arbitrum Ecosystem Spartan Group Bitcoin Ecosystem Real World Assets Protocols Restaking
Protocol Links
GitHub Discord

What the Attacker Needed to Succeed

Understanding the prerequisites for this type of attack helps auditors identify protocols that are most at risk and helps developers build better defenses.

Technical Knowledge Deep understanding of phishing and Solidity and EVM internals
Capital Required Seed capital to cover gas and initial position setup
On-Chain Access Ability to interact with smart contracts and deploy a custom exploit contract
Protocol Analysis Identification of the exploitable vulnerability in Pendle's contract logic - root cause: other
Execution Speed Precise transaction ordering and timing to exploit the vulnerability within a single atomic block
Obfuscation Plan A strategy to launder and move stolen funds - typically through mixers, cross-chain bridges, or decentralized DEX swaps to resist tracing

What Auditors Should Check

Could this have been caught in audit? Likely — with a thorough Phishing audit checklist and test coverage
Audited by Audit Report 1 — still lost $1.4M. Prior audits don't guarantee safety, especially after post-audit code changes.

If you're auditing a protocol with similar architecture to Pendle, these are the critical security checks that could have prevented this incident (June 2024).

  • Verify all logic paths related to Phishing are guarded by proper access controls and input validation - see the Phishing Attacks attack class for patterns
  • Review privileged functions (owner, admin, governance) for potential abuse vectors - centralization risks should be documented and bounded with timelocks or multi-sigs

Master these auditing techniques with hands-on labs and real exploit scenarios in the Smart Contract Hacking course.

Free Trial

Security Audit History

Related Attack Classes

The technique used in this hack maps to these vulnerability classes in our security curriculum:

See all Phishing Attacks examples →

Phishing Attacks

Sources & References

Browse all hacks

These hacks used the same attack technique. Understanding the pattern helps prevent future exploits.

USDC Permit Signature Phishing $1.8M
Phishing
Social Engineering Scam $282M
Phishing
Address Poisoning Attack $50.0M
Phishing
Zerobase $240K
Phishing
MUBARA $55K
Phishing
Venus $13.0M
Phishing

Learn to Prevent the Next Pendle

The Pendle hack is one of many attacks that skilled auditors are trained to detect before deployment. Master real exploit patterns and defense techniques with hands-on Web3 security training.

Start Free Trial Browse Attack Library
Recreate exploit patterns safely Free Trial