According to the source, Pendle stated that no protocol hack occurred; instead, a single user wallet was compromised and the attacker minted and sold PT and YT on Sep 30, 2025 (source: Pendle public statement on X, Sep 30, 2025). For traders, the incident is characterized as wallet-level rather than a protocol breach, with activity centered on PT/YT issuance and sell pressure (source: Pendle public statement on X, Sep 30, 2025).