Ethena Labs shutdown website after hack

Malicious actors successfully penetrated the website of a decentralized banking service provider on September 18. The team’s notification clarified that neither funds nor risk were drained and the frontend user interface was affected.

Users were advised to disconnect their wallets and avoid project-related URLs until further notice. Numerous DeFi protocols, including Ethena, have experienced layer-by-layer compromises. Hackers have occasionally targeted on-chain endpoints and used smart contract flaws to steal money.

On the other hand, malicious actors have been more focused on the web2 services that web3 startups use. In July, hackers targeted the websites of Celer Network and Compound Finance in addition to Ethena’s domain registrar.

The most typical assault usually entails using X-page hijacking to initiate phishing operations. Hackers had access to social media accounts earlier this month, controlled by the Trump family and layer-1 blockchain Near Protocol.

One of the biggest operators of synthetic dollars in DeFi is Ethena. There is a $3 billion supply of its dollar-tied, collateralized token, most of which is released on Ethereum.

Dubbed a “synthetic dollar,” the USDe token yields returns to investors by combining a short-term,perpetual ether futures position with liquid ether staking tokens to sustain a $1′ price