Ethena Labs has issued a critical warning to its users following a security breach on September 18, 2024, involving its domain registrar. The breach allowed attackers to compromise the front end of the Ethena website. In response, Ethena Labs has advised users to avoid interacting with any platform claiming to be associated with Ethena until the issue is fully resolved.
While the website has been temporarily deactivated, Ethena Labs reassured customers that its core protocol remains unaffected, and all user funds are secure. Security firm Blockaid echoed the warnings, urging users who were connected during the exploit to disconnect their wallets immediately and refrain from signing any transactions.
MetaMask has also flagged the Ethena website as “deceptive,” cautioning users to stay away from potential phishing attempts that could steal sensitive data like seed phrases and passwords.
This incident is part of a wider trend of increasing crypto hacks in 2024. According to a report by Immunfi, crypto hacks have exceeded $1.2 billion this year, marking a 15.5% increase compared to the same period in 2023. Recent incidents include a $27 million exploit of the Penpie protocol and a $6 million hack targeting Delta Prime. The latter hack is suspected to be linked to North Korean cybercriminals, who converted stolen funds into Ethereum.
Ethena Labs continues to work on resolving the issue, and users are advised to remain vigilant and follow safety measures.