Apr 20
Ethena Extends OFT Bridge Halt Pending rsETH Root Cause Analysis
Ethena extends OFT bridge pause after rsETH exploit, confirms no exposure and maintains overcollateralized USDe with updated reserves.
➤ Ethena has extended the pause on its LayerZero OFT bridge due to an ongoing rsETH exploit, prioritizing caution despite no direct exposure to its USDe stablecoin. ➤ The protocol maintains that USDe remains overcollateralized with updated reserves verified by independent auditors, including Chainlink and Chaos Labs. ➤ The incident highlights broader DeFi concerns regarding cross-chain vulnerabilities and the need for root cause analysis before resuming operations.