Moonwell Exploit Highlights DeFi Security Risks as Pepeto Offers Verified Trading Solution

A recent exploit on the Moonwell protocol has sent shockwaves through the decentralized finance (DeFi) community, underscoring the need for robust security measures in this sector. The incident occurred when an AI-generated code mispriced cbETH at $1.12 instead of its actual market value of around $2,200.

The resulting oracle failure led to a loss of 1,096 cbETH and $1.78 million in bad debt across multiple assets. This event serves as a stark reminder that even well-funded lending protocols with audits can be vulnerable to systemic risks.

Pepeto, on the other hand, is gaining attention for its innovative approach to addressing the trust problem plaguing DeFi. The project has developed verified trading infrastructure, including an Exchange, PepetoSwap, and a Cross Chain Bridge, all of which are available for testing during its presale.

With a presale price of $0.000000185 and a total raised amount of over $7.2 million, Pepeto is poised to explode in the coming months. The project's founders claim that their infrastructure can help prevent similar exploits and protect users' capital.