TardFiWhale, known for uncovering critical flaws in crypto systems, targets Ethena's USDe (CRYPTO:USDE) with claims of vulnerabilities, demanding a hefty sum to disclose the details, stirring significant concern among investors and the broader crypto community.

Amid Ethena's ambitious expansion, highlighted by a $14 million funding round and the launch of an ENA token airdrop, the sleuth's allegations introduce uncertainty, questioning the safety of the over $1.5 billion USDe issued.

The sleuth's move to request $1 million for exposing alleged flaws in Ethena’s USDe raises eyebrows, marking a bold attempt to spotlight potential risks that could jeopardise user investments in the synthetic dollar stablecoin.

Ethena's innovative approach to stabilising USDe without traditional fiat or asset backing, through derivative hedging and arbitrage strategies, faces scrutiny as the on-chain detective hints at undisclosed critical vulnerabilities.