Parallel Finance announced that it successfully prevented abnormal behavior of the uPPG token pool and the security of user funds was not affected.

On December 11th, Parallel Finance announced that it had detected unusual activity in the uPPG token pool yesterday. A smart contract attempted to artificially raise the price of Uniswap's uPPG token to maximize lending potential. The platform successfully prevented this behavior and seized the funds used by the attacker.

These funds will be held by the platform's multisignature wallet, awaiting post-incident analysis by security partners. The funds will be used for ongoing security improvements and to serve the community. Parallel Finance confirms that no user funds were threatened and the protocol is running smoothly.