Ethena Labs announced that the unrealized profit and loss (PNL) exposure on the hacked ByBit platform is now zero. Following a recent update, users were informed about the slight exposure of stablecoin USDe assets to this incident. The team ensured the assets are held securely outside the exchange. PNL refers to the potential profit or loss a party may face in open positions. Ethena team emphasized that less than $30 million of unrealized PNL was linked to ByBit hedge positions. Despite the hack, USDe remained fully collateralized, posing no threat to user funds. The team also stated that the exposure in the upcoming hours will further decrease, initially dropping to $10 million and eventually to zero. Amid the ByBit exchange hack and crypto market decline, the price of ENA has increased by over 7% in the past 24 hours, currently standing at $0.448. Simultaneously, ENA’s daily trading volume surged by 262% to $568.42 million.
