Ethena Labs Temporarily Deactivates Frontend

Ethena Labs, the development company behind the decentralized synthetic dollar protocol, announced that it has temporarily deactivated its frontend after a compromise in its domain registrar account. The team advised users to avoid interacting with any site or application claiming to be the Ethena frontend, as posted in a message on X on Wednesday.

The company clarified that the Ethereum-based protocol itself remains unaffected, and users’ funds are safe. Details regarding the nature of the compromise are still unknown.

Frontend attacks are common in the crypto industry. Instead of exploiting code vulnerabilities, attackers often replace a project’s website with a malicious version intended to steal users’ funds.

For example, in July, both Compound Finance and Celer Network’s websites redirected users to a phishing site after their domain name service provider, Squarespace, was compromised. Similar attacks have also targeted Galxe, Velodrome, Curve, and many other protocols.

Ethena Labs, known for creating the DeFi-native USDe stablecoin, has yet to respond to a request for comment at press time.