Historical bad-debt events

Pendle Finance's assessment for RD-F-067 — scored not_applicable on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.

Evidence summary #

No collateralized lending function exists in Pendle core markets; no bad debt mechanism is present. The Penpie exploit (September 2024, $27M) was against a third-party wrapper, not Pendle core — confirmed by rekt.incidents:[] in data cache and profile §10 framing. Per taxonomy PD-024, this factor is lending-only.

Sources #

Internal
Pendle Data Cache — rekt fielddata-cache rekt.incidents: [] — no Pendle entries in Rekt leaderboard. Profile §10 confirms Penpie was third-party exploit.retrieved 2026-04-28
URL
Explained: The Penpie Hack (September 2024) — HalbornHalborn Penpie analysis confirming Pendle core contracts not exploitedretrieved 2026-04-29

Methodology #

Count and sum (USD) the number of documented bad-debt events where the protocol socialized losses across depositors.

See the full factor methodology and distribution across all protocols →

rubric_version v1.7.0 protocol pendle factor RD-F-067 score not_applicable collected_at 2026-04-28 21:09:40