According to Foresight News, Parallel Finance, a Web3 super application, reported detecting unusual activity in the uPPG token pool yesterday. A smart contract attempted to artificially increase the uPPG token price on Uniswap to maximize its lending potential. Parallel claims to have successfully stopped this activity and confiscated the funds used by the attacker. These funds will be stored in the protocol's multisig wallet and used for ongoing security improvements and community services. Furthermore, no user funds were leaked, and the Parallel protocol continues to operate smoothly.
