On April 27th, Pike Finance, a cross-chain lending protocol, announced on social media that the USDC mining pool on the Pike Beta test version was hacked at 8:13 on April 26th Beijing time, resulting in the theft of 299,127 USDC. The root cause of the incident was a forged CCTP message that caused USDC on Ethereum, Arbitrum, and Optimism chains to be depleted, while USDC and other assets on the Base chain were not affected. The team has temporarily suspended protocol functions and is working with two audit partners to address the vulnerability and propose a plan to ensure that all affected users can quickly recover.

Cross-chain lending market Pike announced the launch of its testnet, currently supporting Base, Ethereum, Arbitrum, and Optimism networks. It is reported that Pike is a universal liquidity protocol designed to release the utility of native assets by aggregating liquidity on blockchain networks. It enables users to provide native assets on the source chain and borrow native assets on the target chain without interacting with cross-chain bridges and handling wrapped assets.

Native cross-chain lending market Pike announced joint funding from Circle and Wormhole Foundation (WF) to incentivize its integration of USDC as its native stablecoin and utilize Circle's cross-chain transfer protocol (CCTP) and Wormhole's cross-chain messaging capabilities. Pike will receive $50,000 in USDC funding to continue its commitment to improving overall security and user experience, setting new standards for permissionless cross-chain lending.