On September 30th, rumours surfaced online about a hack of the DeFi protocol Pendle. The team has denied this information.
Pendle is NOT hacked.
All funds are safe.
That wallet however, was drained, and exploiter is minting PT / YT and dumping them . https://t.co/BOcQFP0P0v
— Pendle (@pendle_fi) September 30, 2025
According to the developers, the platform’s smart contracts continue to operate normally, and user funds remain secure. A separate whale wallet was affected.
Through this address, the attacker issued PT principal tokens and YT yield tokens, subsequently selling them on the market. According to DeBank, they were exchanged for Ethereum.
Following the news, the price of the protocol’s native token, PENDLE, fell by 10%, from $4.56 to $4.34. By the time of writing, the rate had recovered to $4.55.
The Ethereum-based Pendle protocol was launched in June 2021. It allows for the tokenization of assets and management of future yield. The project’s TVL is approximately $6.5 billion.
Earlier in September, the DeFi protocol Hypervault “vanished” with crypto assets worth $3.6 million.