Decentralized reinsurance protocol Re said a price swing in the Pendle PT-reUSD oracle used by a third-party Morpho market triggered liquidations of leveraged PT positions. According to the team’s statement on X, the incident did not affect reUSD itself, and the Morpho market did not incur bad debt. Re said it is now investigating whether the PT market price may have been intentionally manipulated. The protocol also said it is working with relevant teams to improve oracle settings with a safer configuration. The update centers on the oracle and PT market pricing used in that specific Morpho venue, rather than on reUSD’s core condition. Re’s statement frames the event as a liquidation issue tied to oracle price movement in a third-party market, while stressing that the stable asset itself and the market’s debt profile were not impaired.
Decentralized reinsurance protocol Re said on X that a price swing in the Pendle PT-reUSD oracle used by a third-party Morpho market triggered liquidations of leveraged PT positions.
Re said reUSD itself was not affected, and the Morpho market did not generate bad debt. The team said it is investigating whether the PT market price may have been intentionally manipulated, and is working with relevant teams to improve the oracle setup with a safer configuration.
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