A fake Etena Labs token was sold for $290,000 on Binance Launchpool
Update March 29, 09:50 am UTC: This article has been updated to clarify that the token in question is a fake of Etena Labs' ENE token of the same name.
A fake token with the same name of Etna Labs' ENE token was used on the Binance launch pool to farm 480 BNB (BNB) tokens worth $290,000.
The vulnerability behind the exploit is still unknown. On March 29, 8:31 am UTC, the on-chain security firm PexShield misattributed an incident on X-Post to the actual ENE token.
Etena Labs' ENA token was announced on Binance Launchpool on March 29. An unrelated Athena Labs hack occurred just hours after the announcement, causing widespread confusion.
Athena Labs launched the USDe synthetic dollar on its public network on February 19. Etena became the highest-grossing decentralized application (DApp) on March 8, offering investors a 67 percent annual yield (APY).
Relative to the total sum, the exploit is the least on crypto hacks. The attack happened a day after the March 28 hack of Prisma Finance, which cost more than $11-million.
Crypto hacking is a long-standing issue in the industry, eroding investor confidence. More than $200 million worth of crypto was lost in 2024 through hacking and remote withdrawals in 32 separate incidents through February 29.
The more than $200-million in losses represents a 15.4% increase compared to January and February 2023, when $173 million in digital assets were stolen.
In the year $1.8 billion will be lost to crypto hackers and fraudsters by 2023, with 17% likely to be taken by North Korea's Lazarus group, according to a Dec. 28 report by Immunefi.
Related: Hacked funds in 2024 up 15.4% over same period in 2023 – Immunefi
The amount of stolen crypto funds decreased by 54 percent in 2023
The biggest year for crypto hackers was 2022, when they fund stpo of more than $3.7 billion, a decrease of 54.3% to $1.7 billion in 2023, according to the “2024 Crypto Crime Report” by Chainalysis.
Despite the decline in fund prices, the number of events increased from 219 in 2022 to 231 in 2023.
Chainalysis' biggest drop year-on-year is due to a decline in decentralized finance (DeFi) hacking, the report said.
The DeFi protocols we saw in 2021 and 2022 led to a surge in stolen crypto, with cybercriminals stealing more than $3.1 billion in DeFi hacks last year. This year, however, hackers stole $1.1 billion from DeFi protocols alone. This is a 63.7% year-over-year decrease in the total value stolen from DeFi platforms.
Related: Marc Andreessen, Galaxy Digital, Accolade, back new $75 million crypto fund: report
