Cyvers in the News

Penpie hacker launders 26% of $27M stolen funds in 12 hrs

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On Sept. 4,^{Web3 security firm Cyvers alerted} about the hacker transferring 26% of the hacked funds to a Tornado Cash address.

Penpie DeFi Platform Reportedly Hit With $27 Million Security Breach

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^{According to the real-time on-chain monitoring system Cyvers Alert}, the hack led to the loss of at least $26 million in various wrapped and synthetic crypto assets.

Over 70% of hacked funds are lost to CeFi entities: ^Cyvers

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^{To improve these vulnerabilities, the industry needs a more holistic approach to Web3 security, according to Cyvers’ Lavid, who said:}

“Addressing these vulnerabilities requires a shift towards a more mature and conscious approach to security. Securing entire networks, not just individual projects, and focusing on both technological and human factors are essential steps in this direction, especially as L2 networks continue to grow."