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

Binance founder and former CEO Changpeng Zhao (CZ) is set for imminent release, confirmed by the US Federal Bureau of Prisons (BOP).

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.

Tokens that power Decentralized Physical Infrastructure Networks (DePIN) are gaining traction, making them assets that investors should watch closely.

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.

Altcoins Beam, Artificial Superintelligence Alliance, Mantra, and Arweave have all suffered double-digit losses, ranking as the top losers of the day. Beam Beam (BEAM) led the charge of the top losers seen on Aug. 12, falling 13% at $0.

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.

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Ethena Labs has announced the expansion of its USDe stablecoin to the Solana blockchain. This strategic integration not only broadens USDe's reach but also introduces a novel approach to stablecoin mechanics in the rapidly evolving world of decentralized finance.

This move advances stablecoin evolution and showcases Ethena Labs' commitment to solving key crypto challenges. USDe, Ethena Labs' synthetic dollar, is designed to offer a scalable and censorship-resistant alternative to traditional stablecoins.

The company said it's confident the Solana integration will significantly increase adoption of its USDe stablecoin.

Ethena survived a large-scale market correction, without significant de-pegging of its USDe native stablecoin.

Despite the current market volatility and criticism about the risks associated with synthetic stablecoins, Ethena has taken steps to manage these challenges.

Since Monday, Ethena's USDe stablecoin has seen nearly $100 million in redemptions amid significant market turbulence.

In recent days, the overall cryptocurrency landscape has faced massive selling pressure as a result top assets see a notable decline in their value. Amid this downturn, Ethena (ENA) an Ether-based token looks in trouble as it plummeted over 30% price decline in the last 7 days.

The integration will also offer Bybit users daily airdrop rewards for holding Ethena's USDe.

TL;DR USDe Rewards on Bybit: Starting August 2nd, Ethena Labs and Bybit introduce a groundbreaking feature for crypto traders. Bybit users can earn rewards by holding or using USDe as collateral. Capital Efficiency and Fee-Free Trading: By integrating USDe, Bybit empowers users to earn passive income from their collateral.

In August, Ethena (ENA) will be unlocked along with more than $1.5B worth of tokens, leading to further price pressure.

Elixir claims to have $1 billion in liquidity lined up to back the yield-bearing token, alongside support from DeFi platforms like Pendle.

Ethena Labs has announced the integration of USDe, a novel reward-bearing stable margin collateral, on the Bybit exchange. Set to launch next month, this innovative financial instrument aims to revolutionize how traders manage their collateral while simultaneously earning rewards.

The BlackRock BUIDL fund has pitched its hat in the ring to receive an allocation from DeFi stablecoin issuer Ethena's reserve fund.

USDe issuer Ethena wants to invest some of its reserves into tokenized US treasuries. In a governance post on July 16, the protocol disclosed its intention to allocate $235 million in USDT stablecoin from its collateral assets and $45 million from its Reserve Fund to real-world assets (RWA) products.

Ethena gained bullish momentum after Securitize, the distributor of BlackRock's USD Institutional Digital Liquidity Fund (BUIDL), proposed a significant investment.

Amid cross-border market correction, top crypto tokens have recorded a notable correction over the past day. However, the Ethena price has recorded a strong bullish recovery by adding significant valuation to its portfolio over the past few hours.

Ethena's proposal to allocate funds to tokenized real-world assets for yield follows similar actions by crypto lender MakerDAO and Ethereum layer-2 Arbitrum's development organization.

Ethena's (ENA) price has crashed by 61% from its all-time high and is nearing its record low as concerns about its stablecoin rise.

Ethena Labs has a more favorable risk profile in July, but may need bigger reserves to withstand worst-case scenarios.

Ethena has recently made headlines with a substantial 45% rally in its price over just two weeks. This surge, while impressive, comes amidst a backdrop of complex market dynamics and technical indicators that suggest both opportunities and challenges for Ethena (ENA) investors.