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Ethena Labs, a leading decentralized finance (DeFi) provider known for its synthetic dollar operations, experienced a major security breach on September 18. Hackers compromised the front end of Ethena's website, prompting an immediate response from the company.
Ethena Labs, the organization responsible for the decentralized synthetic dollar protocol, has suspended its website activities after a security breach on its domain registrar's account. To avert further harm, the company posted a notice on X (previously Twitter) and instructed users not to engage with any site or application that purports to be the Ethena
Hackers attacked synthetic dollar issuer Ethena, but the protocol said its core blockchain infrastructure remained uncompromised. On Sept. 18, bad actors successfully breached the website of decentralized finance service provider Ethena Labs (ENA).
Web3 security platform Blockaid recently detected a potential front-end attack targeted towards Ethena Labs. Reportedly, the attackers used the latest version of Inferno drainer in this attack.
The Ethena website appears to have suffered a front-end attack, and users are encouraged not to interact with the platform.
The project noted the protocol itself is unaffected, but users should avoid “any site or application purporting to be the Ethena frontend."
Ethena Labs' frontend attack highlights the critical need for robust security measures to protect user interactions and maintain trust in DeFi platforms. The post Ethena Labs suffers frontend attack, confirms protocol remains unaffected appeared first on Crypto Briefing.
The alternative stablecoin market is evolving, and projects like Ethena are leading the way, with a total value locked of $2.7 billion.
Based on the latest data, Ethena's yield-generating stablecoin, USDE, has experienced a dramatic contraction in supply since July 4, 2024. Over the span of less than two months, its market capitalization has decreased by $770 million. Ethena's USDE Supply Plummets as Competition Heats Up From Aug. 23 to Aug.
Ethena whales have dumped a notable 22 million ENA, worth $6.9 million, to Binance.
The cryptocurrency space maintains sideways actions as Bitcoin sways above and below the $60,000 mark. Amidst the volatility, four Ethena (ENA) whales unstaked and deposited 15.86 million coins (worth over $4 million). The transaction, which happened through Binance exchange over the past 24 hours, saw the whales encountering losses of over $5 million.
Token unlock involves releasing tokens that were previously blocked under fundraising terms. Projects carefully schedule these releases to avoid market pressure and prevent a drop in token prices.
Binance has announced that it will be delisting a number of spot trading pairs. The reason for this is Binance's evaluation of all listed spot trading pairs on a regular basis, analysis of their performance and liquidity.
Data from Token Unlocks revealed that four major token unlocks were scheduled for August between the 19th and the 25th. According to Token Unlocks, 54 million PIXEL and 9.54 million AVAX would be released on August 19, while 18.94 million ID and 14.89 million ENA would be released on August 22 and August 25, respectively.
It was a sea of red in the cryptocurrency market on Aug. 16 as Bitcoin dropped below the key support level of $58,000. Most altcoins were deep in the red, remaining in a bear market.
Cryptocurrency prices held steady on Wednesday as a sense of calm returned in the market after the encouraging US Producer Price Index (PPI) report. Bitcoin, the biggest crypto in the industry, crossed the important resistance point at $60,000 while the market cap of all tokens jumped to over $2.14 trillion.
With the BTC price hovering close to its $59,000 mark, the crypto market has displayed stability in the buying and selling pressure. This indicates a high possibility of a bullish rebound in the coming time.
Ethena, Pepe and Luna Classic are our top cryptocurrencies to watch this week.
Solana's doing well on the price front, but there may be more good news.
Ethena Labs has announced the launch of its stablecoin, USDe, on the Solana network as of August 7.
USDe was made available on Solana and became integrated with multiple Solana-based DEXs and DeFi protocols, including Kamino, Orca and Drift.
On Wednesday, Ethena Labs, the team responsible for the yield-bearing stablecoin project USDE, revealed its expansion to the Solana blockchain. This move brings USDE to the distributed ledger, with SOL now also being used as part of the stablecoin's reserve backing.
Ethena Labs has expanded its “synthetic dollar” USDe to the Solana blockchain and revealed intentions to add the SOL token as a backing asset for the stablecoin, according to an Aug. 7 statement. USDe's integration with Solana was achieved through LayerZero's omnichannel fungible token (OFT).
TL;DR Ethena Labs has integrated its synthetic stablecoin USDe into the Solana blockchain, aiming to overcome challenges associated with stablecoins and provide a robust and decentralized alternative. USDe is a crypto-native synthetic asset that stands out from traditional stablecoins due to its scalability and censorship resistance.
