ENA (Ethena Labs) managed to drain $290,000 or the equivalent of 480 $BNB BNB from Binance Launchpool. This exploit occurred several hours after #ethena (ENA) was officially introduced in #Binance Launchpool.
ENA Counterfeit Coin Exploit
According to a report by on-chain security firm PeckShield, the exploited coin is a fake version of $ENA. These fake coins have the exact same name as the original coins, so many users are fooled.
Binance, the world's largest crypto exchange by market capitalization, has added Ethena to its Launchpool. Thus, this synthetic dollar protocol becomes the 50th crypto project to join the platform. This launch allows users to mine tokens by staking BNB or FDUSD.
This fake Ethena coin exploit is separate from the Ethena Labs initiative. This emphasizes the importance of strong security measures and caution in token transactions.
PeckShield Response
News of this exploit caused confusion among the crypto community. PeckShield also confirmed to users in a separate post that the token was fake and not related to the real Ethena.
PeckShield also clarified that the tokens mentioned in their report are not real tokens and should not be associated with Ethena in any way.
