Fake Ethena Labs token exploited for $290K on Binance Launchpool

The exploit on the copy-cat token occurred hours after Ethena’s new ENA token was launched for farming on Binance.

Update 09:50 am UTC: This article has been updated to clarify the token in question is a fake token bearing the same name as Ethena Labs’ ENA token.

A fake token with the same name as Ethena Labs’s ENA token has been exploited for 480 BNB (BNB) tokens worth $290,000 on the Binance launch pool for farming. 

The vulnerability behind the exploit is still unknown. On-chain security firm PeckShield reported the incident at 8:31 am UTC on March 29 in an X post, mistaking the fake token for the real ENA token.

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