Parallel Finance has blocked abnormal behavior in the uPPG token pool, and the safety of funds has not been affected

ChainCatcher news, according to the official announcement, Parallel Finance disclosed that it detected unusual activity in the uPPG token pool yesterday, where a smart contract attempted to artificially inflate the price of the uPPG token on Uniswap to maximize lending potential.

Currently, Parallel Finance has successfully blocked this behavior and confiscated the funds used by the attacker. These funds will be held in the platform's multi-signature wallet, awaiting post-incident analysis by security partners. Additionally, these funds will be used for ongoing security improvements and to serve the community. It is worth noting that Parallel Finance confirmed that user funds were not affected and the protocol is operating smoothly.