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Pike Finance clarifies ‘USDC vulnerability’ statement on $1.6M exploit

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Pike protocol clarified that USDC's product offerings had nothing to do with the security lapse that the network suffered.

Pike highlighted that the exploit occurred due to their team’s inadequate integration of third-party technologies such as the CCTP or Gelato Network’s automation services.

“This exploit is related to the initial USDC vulnerability that was reported last week on the 26th of April.” “It is important to clarify that this vulnerability was previously identified by our auditing partner, OtterSec. Our developer team was unable to address the identified vulnerability in a timely manner.”

 

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