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Tokenizing the cash-and-carry trade, Ethena is turning heads in the crypto market. But some worry its risks are being overlooked amid the latest bull run.
Spada₿oom is the founder of BadgerDAO, a Bitcoin-focused DeFi protocol. The team is working on eBTC – a groundbreaking new synthetic asset that capitalizes on the evolution of ETH staking to create the most transparent and capital-efficient borrowing facility for Bitcoin on Ethereum in DeFi.
Wise Lending, a Web3 lending application and yield aggregator, is the latest victim of an exploit, and arguably the first case in 2024 after an exploiter executed a flash loan attack.
The attacker used an unverified contract to borrow 1,100 Lido Staked Ether, which may have been used to manipulate prices and drain funds from the protocol.
Multiple tokens were drained from the Wise Lending app, including USDC, USDT, WETH and numerous Pendle Finance-associated tokens.