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Purrlend discloses a security incident, with damages totaling approximately $1.52 million.
Purrlend reports that the protocol experienced a security attack on April 25th, causing estimated damages of approximately $1.52 million on HyperEVM and MegaETH deployments.
The attacker is believed to have gained control of two-thirds of the team’s multisignature governance wallet, thereby acquiring additional administrative rights, including BRIDGE_ROLE. They then minted about 2 million pUSDm and 4.85 million pUSDC without collateral using the mintUnbacked function, and used these assets as collateral to borrow real assets from the liquidity pool.
The damage on HyperEVM is approximately $1.2 million, and on MegaETH about $325,000. Purrlend has temporarily paused the protocol, revoked access rights, and contacted law enforcement agencies along with blockchain analysis firms to monitor the flow of funds.
The team stated that the root cause was not in the smart contract logic but in the multisignature configuration lacking a time lock. The group is currently considering compensation options but has not announced further details.
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