PANews May 1 news, according to the accident report released by Purrlend, Purrlend encountered a security incident on April 25, resulting in a total loss of approximately 1.52 million USD on the HyperEVM and MegaETH deployments. The attacker compromised 2/3 of the team's administrator multi-signature wallet, granting multiple administrator permissions, including BRIDGE_ROLE, to a malicious address. Subsequently, through the mintUnbacked function, approximately 2 million pUSDm and 4.85 million pUSDC were minted without collateral, which were borrowed out as collateral from the liquidity pool. The HyperEVM loss was about 1.2 million USD, while the MegaETH loss was about 325 thousand USD. Purrlend has suspended the protocol, revoked permissions, and contacted law enforcement and blockchain analysis firms to trace the funds. The root cause of the incident was the lack of a time lock in the multi-signature configuration, rather than a smart contract logic vulnerability. The team is exploring compensation solutions.

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