The exploit occurred hours after Ethena’s new ENA token was launched for farming on Binance.
Ethena Labs has been exploited for 480 BNB tokens worth $290,000 on the Binance launch pool for farming.
The vulnerability behind the exploit is still unknown. On-chain security firm PeckShield reported the incident at 8:31 a.m. UTC, on March 29, in an Xon the Binance launchpool on March 29, a few hours before the exploit, enabling users to farm the token by staking BNB or FDUSD.In terms of total sum, the exploit is on the smaller side of crypto hacks.
Crypto hacks are a long-standing issue in the industry, erroding investor trust. Over $200 million worth of crypto has been lost to hacks and rug pulls in 2024 across 32 individual incidents up to Feb. 29, according to blockchain security firm Immunefi. The over $200 million loss represents a 15.4% increase compared to January and February 2023, when $173 million of digital assets were stolen.and scammers in 2023, of which 17% can be attributed to the North Korean Lazarus Group, according to a Dec. 28 report by Immunefi.SBF memecoins pump and dump as FTX founder gets 25-year prison sentenceTrading Bitcoin’s halving: 3 traders share their thoughts
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