PiggyBank users are facing fresh vault drawdowns after the DeFi yield protocol disclosed that a locked LAB token position moved against its hedging strategy during extreme market volatility. The issue was initially described across social media as a possible LAB exploit, but the confirmed details point to a trading and risk-management event rather than a verified token-contract hack. PiggyBank’s own community statement said the protocol entered a $100,000 LAB position about one month ago, equal to roughly 2% of the portfolio at the time. The position came through a discounted OTC deal and was hedged with perpetual shorts.