Key Takeaway:
- Hackers attacked Ethena, a synthetic dollar issuer in the DeFi space, but its core blockchain infrastructure remained secure.
- Other DeFi protocols like Celer Network and Compound Finance have also faced compromises.
- Hackers target web2 services used by web3 startups, exploiting vulnerabilities in domain registrars and social media accounts.
Hackers target Ethena and DeFi
Ethena and other DeFi protocols have experienced breaches at different levels, including on-chain endpoints and smart contract vulnerabilities leading to fund theft.
New player challenges Ethena’s market share
Ethena, a major player in the DeFi space with a $2.6 billion supply of a collateralized, dollar-tied token on Ethereum, is facing potential competition from DWF Labs, which is developing a synthetic dollar offering.
Increasing cyber threats in the DeFi sector
Hackers are increasingly targeting web2 services utilized by web3 startups, such as domain registrars and social media accounts, to launch phishing campaigns and compromise security.
