According to Purrlend’s official incident report, on April 25, the protocol suffered a security breach resulting in approximately $1.52 million in losses across HyperEVM and MegaETH deployments. Attackers compromised a 2/3 multisig wallet and granted themselves admin privileges including BRIDGE_ROLE, then used the mintUnbacked function to mint approximately 2 million pUSDm and 4.85 million pUSDC without collateral, borrowing real assets from liquidity pools. HyperEVM losses totaled approximately $1.2 million, while MegaETH losses reached approximately $325,000. Purrlend has suspended the protocol and revoked permissions.
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