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3. Crisis Management and Risk Analysis

Following the announcement of the breach, the Penpie team continued to provide constant updates via social media platforms, and confirmed that their team was working intensively to identify the source of the breach and contain the damage. Immediate action was taken to stop the withdrawals, and efforts were directed towards recovering any stolen funds. Initial analysis showed that Pendle’s monitoring systems detected the breach early, which helped protect $105 million worth of assets from being withdrawn.