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Ethena Labs has been exploited for 480 BNB tokens value $290,000 on the Binance launch pool for farming.
The vulnerability behind the exploit continues to be unknown. On-chain safety agency PeckShield reported the incident at 8:31 a.m. UTC, on March 29, in an X post.
Ethena Labs’s $ENA token was introduced on the Binance launchpool on March 29, just a few hours earlier than the exploit, enabling customers to farm the token by staking BNB or FDUSD.
Ethena Labs launched its USDe artificial greenback on the general public mainnet on Feb. 19. Ethena became the highest-earning decentralized software (DApp) in crypto on March 8, when it supplied buyers an annual share yield (APY) of 67%.
When it comes to complete sum, the exploit is on the smaller facet of crypto hacks. The assault occurred a day after the over $11 million Prisma Finance hack on March 28.
Crypto hacks are a long-standing problem within the business, erroding investor belief. Over $200 million value of crypto has been misplaced to hacks and rug pulls in 2024 throughout 32 particular person incidents as much as Feb. 29, in keeping with blockchain safety agency Immunefi.
The over $200 million loss represents a 15.4% enhance in comparison with January and February 2023, when $173 million of digital belongings have been stolen.
A complete of $1.8 billion was lost to crypto hacks and scammers in 2023, of which 17% may be attributed to the North Korean Lazarus Group, in keeping with a Dec. 28 report by Immunefi.
Associated: Funds hacked in 2024 increased by 15.4% vs. the same period in 2023 — Immunefi
It is a growing story, and additional info shall be added because it turns into accessible.
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