A fraudulent token masquerading as the newly launched ENA token was exploited on Binance Launchpool, resulting in losses of 480 BNB worth approximately $290,000. The incident, which occurred mere hours after the legitimate Ethena (ENA) token debuted as the platform’s 50th project, has sown significant confusion and raised urgent questions about security protocols in the cryptocurrency sector. Security firm PeckShield has confirmed the token was counterfeit, highlighting a persistent vulnerability to malicious exploits within the digital asset space.
about Fake ENA Token Exploited on Binance Launchpool, $290K LostBinance Launchpool
0 in Finance and 0 in Crypto last weekFake ENA Token Exploit on Binance Launchpool Costs $290K
A fake ENA token was exploited on Binance Launchpool, leading to a loss of 480 BNB (~$290,000) shortly after the legitimate Ethena (ENA) token’s debut. The counterfeit token shared the same name, causing confusion and highlighting vulnerabilities in crypto offerings. Security firm PeckShield confirmed the token was fraudulent and unrelated to Ethena Labs. This incident follows broader concerns about DeFi security, including a recent $10M exploit on Prisma Finance and 2023’s $1.8B in crypto hacks. Ethena Labs, known for its USDe synthetic dollar protocol, had marked a milestone as Binance Launchpool’s 50th project before the exploit.
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