On-Chain Detective Uncovers Major Flaws in Ethena’s USDe System
Tuesday, 2 April 2024, 11:55
Critical Vulnerabilities Exposed in Ethena’s USDe by On-Chain Detective
An on-chain detective, TardFiWhale, has spotlighted severe vulnerabilities in Ethena's USDe, demanding a hefty sum to disclose them, amidst the company's rapid growth and new token offerings.
TradFiWhale Raises Concern Despite Ethena’s Token Listing
TardFiWhale, with a track record of exposing financial missteps such as the collapse of the TerraLuna ecosystem, has raised alarms about Ethena’s structural weaknesses.
- Despite issuing over $1.5 billion in USDe, Ethena is now grappling with potential vulnerabilities that could endanger user investments.
- Given his history of foresight, these concerns carry significant weight, urging caution among Ethena’s stakeholders.
TradFiWhale says his intention is to prevent another financial catastrophe, reflecting on past crises in the crypto domain.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.