As a seasoned crypto investor with a knack for navigating the digital jungle, I’ve seen my fair share of twists and turns, but the recent hack on Ethena has me raising an eyebrow. While it’s reassuring to hear that the core blockchain infrastructure remained unscathed, I can’t help but wonder who’s next on the list. It seems like a cat-and-mouse game between DeFi protocols and these cybercriminals.
Hackers attacked synthetic dollar issuer Ethena, but the protocol said its core blockchain infrastructure remained uncompromised.
On September 18th, some unscrupulous individuals managed to hack into the website of Ethena Labs, a provider of decentralized finance services (ENA). However, according to the team’s announcement, only the front-end user interface was affected, and neither funds nor assets were in danger or taken.
Currently, our efforts to find out how the project’s website was compromised by hackers have not yielded any results. In light of this incident, users are being cautioned to steer clear of links associated with the project and disconnect their digital wallets until more information is available.
Our Ethena domain registrar account has been hacked, and as a precautionary measure, we’ve temporarily shut down the website for additional security checks. The underlying protocol remains unaffected, and all funds are secure. Avoid engaging with any sites or apps claiming to be the Ethena frontend until we provide further updates.
— Ethena Labs (@ethena_labs) September 18, 2024
As a researcher delving into the world of DeFi, I’m particularly interested in Ethna – a significant player in the synthetic dollar market. With a supply of $2.6 billion for its collateralized, dollar-linked token, it holds a substantial presence, primarily on Ethereum (ETH), according to DefiLlama. Yet, there’s an emerging competitor that could potentially shake up Ethna’s market share in the upcoming months. Crypto market maker DWF Labs has been actively working on its synthetic dollar project even before entering the design phase.
Hackers target Ethena and DeFi
Ethena and various Decentralized Finance (DeFi) systems have experienced breaches at multiple levels. In certain instances, hackers infiltrated on-chain access points and capitalized on vulnerabilities within the smart contracts, enabling them to pilfer assets.
On the other hand, malicious users have been more frequently focusing on web2 services used by web3 startups such as Ethena’s domain registrar. For instance, similar attacks occurred against the websites belonging to Celer Network and Compound Finance in July.
Frequently, the primary method of attack is sending out phishing attempts via compromised X websites. Notably, in recent times, hackers have successfully breached social media profiles belonging to users associated with layer-1 blockchain Near Protocol (NEAR) and the Trump family, among others.
Read More
Sorry. No data so far.
2024-09-18 21:14