Ethena security record
As of 1 Nov 2026, Ethena has 14 audit reports by 6 security firms on Trustblock; the latest is by Guardian Audits, dated 17 Aug 2026. Those reports list no open critical findings.
Record last updated . It holds audits and findings, contracts and incidents up to Oct 2026. Trustblock does not review code.
Audits14
Newest first
| Audit | Security firm | Date | Scope | Critical findings | Report |
|---|---|---|---|---|---|
| Ethena PSMAdapter Review | Security firm: Guardian Audits | Date: | Scope: Not recorded (see the report) | No open critical findings | Open · GitHub |
| Ethena Onchain Minting | Security firm: Guardian Audits | Date: | Scope: Not recorded (see the report) | No open critical findings | Open · GitHub |
| Ethena Execution Guard Review | Security firm: Guardian Audits | Date: | Scope: Not recorded (see the report) | No open critical findings | Open · GitHub |
| Ethena TimelockController | Security firm: Guardian Audits | Date: | Scope: Not recorded (see the report) | No open critical findings | Open · GitHub |
| Ethena Timelock Audit Report | Security firm: Cyfrin | Date: | Scope: Not recorded (see the report) | No open critical findings | Open · GitHub |
| Ethena UStb token and minting | Security firm: Quantstamp | Date: | Scope: Files named in the report | No open critical findings | Open · certificate.quantstamp.com |
| Ethena security review | Security firm: Pashov Audit Group | Date: | Scope: Not recorded (see the report) | No open critical findings | Open · GitHub |
| Ethena security review | Security firm: Pashov Audit Group | Date: | Scope: Not recorded (see the report) | No open critical findings | Open · GitHub |
| Ethena security review | Security firm: Pashov Audit Group | Date: | Scope: Not recorded (see the report) | No open critical findings | Open · GitHub |
| Ethena security review | Security firm: Pashov Audit Group | Date: | Scope: Not recorded (see the report) | No open critical findings | Open · GitHub |
| ethena | Security firm: Cantina | Date: | Scope: Not recorded (see the report) | No open critical findings | Open · cantina.xyz |
| Ethena security review | Security firm: Pashov Audit Group | Date: | Scope: Not recorded (see the report) | No open critical findings | Open · GitHub |
| Ethena Labs | Security firm: Quantstamp | Date: | Scope: Files named in the report | No open critical findings | Open · certificate.quantstamp.com |
| Ethena security assessment | Security firm: Zellic | Date: | Scope: Not recorded (see the report) | No open critical findings | Open · GitHub |
Findings64
Statuses are the security firm’s own, from each report.
| Severity | Open | Acknowledged | Fixed |
|---|---|---|---|
| Critical | 0 | 0 | 0 |
| High | 0 | 0 | 0 |
| Medium | 0 | 6 | 6 |
| Low | 0 | 22 | 30 |
MediumGuard Update Timelock BypassEthena Execution Guard Review · Guardian Audits · 2 Apr 2026Fixed
The report gives no description here.
Open the reportMediumNative Asset Transfers Always RevertEthena TimelockController · Guardian Audits · 26 May 2025Fixed
The report gives no description here.
Open the reportMediumSome orders can be executed multiple timesEthena security review · Pashov Audit Group · 23 May 2024Fixed
The report gives no description here.
Open the reportMediumMalicious Users Can Perform Dos Attack by Setting Delegated Signer to SelfEthena Labs · Quantstamp · 28 Sep 2023Fixed
When `order.benefector` is a smart contract, it can delegate an EOA to be the signer for the contract, by calling `setDelegatedSigner()`. When `mint()` and `redeem()` are called, they first check that the order is valid by calling `validateOrder()`, which in turn checks that the signer of the order is either `msg.sender` or a delegated signer for `msg.sender` (i.e. `delegatedSigner[signer] == order.benefactor`). Suppose contract A delegates Alice to be the signer by calling `delegateSigner(Alice)`, this would result in `delegatedSigner[Alice] = A`. However, since `setDelegatedSigner()` can be called by anyone, this allows a malicious actor, Bob, to block any `mint()` or `redeem()` calls for contract A (signed by Alice) by front-running it with a call `delegateSigner(Alice)`, which would set `delegatedSigner[Alice] = Bob`, causing `verifyOrder()` to fail.
Open the reportMediumSystem Supports Withdrawal but Does Not Support Deposit of Native TokenEthena Labs · Quantstamp · 28 Sep 2023Fixed
The system does not support using native ETH as collateral to mint new USDe, as shown in `_transferCollateral()`. However, it seems possible for users to redeem native tokens since `_transferToBeneficiary()` supports it. Furthermore, there is no direct way (other than `selfdestruct()`) for the contract to receive native tokens as `fallback()` and `receive()` are not implemented and there is no payable function.
Open the reportMediumInconsistencies in signers’ and roles’ management with implementation of access controlEthena security assessment · Zellic · 5 Jul 2023Fixed
The report gives no description here.
Open the reportLowFee Events Overstate FeesEthena Onchain Minting · Guardian Audits · 2 Jul 2026Fixed
The report gives no description here.
Open the reportLowsetFallbackHandler Can Bypass Executor WhitelistEthena Execution Guard Review · Guardian Audits · 2 Apr 2026Fixed
The report gives no description here.
Open the reportLowUnrestricted renounceOwnershipEthena Execution Guard Review · Guardian Audits · 2 Apr 2026Fixed
The report gives no description here.
Open the reportLowEther Refunds Break Balance InvariantEthena TimelockController · Guardian Audits · 26 May 2025Fixed
The report gives no description here.
Open the reportShow 10 more
LowStuck Actions Due To Missing Whitelist CheckEthena TimelockController · Guardian Audits · 26 May 2025Fixed
The report gives no description here.
Open the reportLowEthenaTimelockController::addToWhitelist and remove- FromWhitelist don’t revert for non-existent target addressEthena Timelock Audit Report · Cyfrin · 16 May 2025Fixed
The report gives no description here.
Open the reportLowOnly allow execution if value parameters match msg.value to prevent eth remaining in the EthenaTimelockController contractEthena Timelock Audit Report · Cyfrin · 16 May 2025Fixed
The report gives no description here.
Open the reportLowRe-entrancy protection can be evaded via TimelockController::executeBatchEthena Timelock Audit Report · Cyfrin · 16 May 2025Fixed
The report gives no description here.
Open the reportLowTimelockController won’t revert when executing on non-existent contractsEthena Timelock Audit Report · Cyfrin · 16 May 2025Fixed
The report gives no description here.
Open the reportLowinitialize does not trigger __ReentrancyGuard_initEthena security review · Pashov Audit Group · 2 Sep 2024Fixed
The report gives no description here.
Open the reportLowNot immediately setting the correct _INITIAL_REWARDER address during the deploymentEthena security review · Pashov Audit Group · 2 Sep 2024Fixed
The report gives no description here.
Open the reportLowredistributeLockedAmount does not check if the from balance is non-zeroEthena security review · Pashov Audit Group · 2 Sep 2024Fixed
The report gives no description here.
Open the reportLowsENA permit signatures cannot be canceled before deadlinesEthena security review · Pashov Audit Group · 2 Sep 2024Fixed
The report gives no description here.
Open the reportLowUnnecessary checking if caller is blacklisted inside _withdrawEthena security review · Pashov Audit Group · 2 Sep 2024Fixed
The report gives no description here.
Open the reportShow 10 more
LowMissing sanity checks when setting the tokenConfigEthena security review · Pashov Audit Group · 23 May 2024Fixed
The report gives no description here.
Open the reportLowRenounce approvals from the previous mintContractEthena security review · Pashov Audit Group · 22 Feb 2024Fixed
The report gives no description here.
Open the reportLowRe-using MINTER_ROLE for transferToCustody Authorization Violates the Principle of Least Privilegeethena · Cantina · 31 Oct 2023Fixed
The report gives no description here.
Open the reportLowSocialized Frozen Balance Redistributions Are Vulnerable to Sandwichingethena · Cantina · 31 Oct 2023Fixed
The report gives no description here.
Open the reportLowEIP712 is not correctly implemented for the Route structEthena security review · Pashov Audit Group · 22 Oct 2023Fixed
The report gives no description here.
Open the reportLowMalicious actor can evade the FULL_RESTRICTED_STAKER_ROLE roleEthena security review · Pashov Audit Group · 22 Oct 2023Fixed
The report gives no description here.
Open the reportLowThe SOFT_RESTRICTED_STAKER_ROLE gives a false sense of securityEthena security review · Pashov Audit Group · 22 Oct 2023Fixed
The report gives no description here.
Open the reportLowUnchecked method return values can lead to errorsEthena security review · Pashov Audit Group · 22 Oct 2023Fixed
The report gives no description here.
Open the reportLowDefining Custom Cryptographic Operations Introduces Unnecessary RisksEthena Labs · Quantstamp · 28 Sep 2023Fixed
`getRsv()` is defined in `EthenaMinting.sol` to help unpack `r,s,v` from the signature bytes. It is recommended to use existing battle-tested libraries (e.g. OpenZepplin's ECDSA library) for cryptographic operations due to the high risk of introducing unintended vulnerabilities.
Open the reportLowInput ValidationEthena Labs · Quantstamp · 28 Sep 2023Fixed
Consider the following input validation checks: 1. `EthenaMinting.sol` 1. `setUSDe()` 1. Check that `_usde` is not the same as `usde`. 2. `StakeUSDeV2.sol` 1. `setCooldownDuration()` 1. `duration` should not exceed the specified 90-day maximum cooldown. 1. `unstake()` 1. `receiver` should not be the zero address.
Open the reportShow 6 more
LowOwnership Can Be RenouncedEthena Labs · Quantstamp · 28 Sep 2023Fixed
If the owner renounces their ownership, all ownable contracts will be left without an owner. Consequently, any function guarded by the `onlyOwner` modifier will no longer be able to be executed. Additionally, the DEFAULT_ADMIN_ROLE can be renounced/revoked from `EthenaMinting` and `StakeUSDe.sol`.
Open the reportLowPotential Collateral Sent to Non-Team Controlled AddressesEthena Labs · Quantstamp · 28 Sep 2023Fixed
There is the potential for collateral to be transferred to addresses that are not controlled by the team as there is no storage in the contract state that contains a set of these addresses that are valid. As a result, there is the potential for USDe-Buy-Orders to be processed that do not transfer the collateral to a team-controlled address. While it is understood that Ethena servers perform validation before sending transactions to the smart contract, we would still like to highlight this possibility.
Open the reportLowPotential Index Out of Bounds on Mint OrdersEthena Labs · Quantstamp · 28 Sep 2023Fixed
`EthenaMinting.mint()` does not confirm that the order type being processed is indeed of `OrderType.MINT`. In the case where an Order with `OrderType.REDEEM` is passed to this function, `verifyRoute()` will not validate matching lengths of the `route.addresses` and `route.ratios`, which will result in index out of bounds when transferring collateral. This will lead to a failing transaction without adequate failure logging.
Open the reportLowThe Return Value of `ecrecover()` Should Be Validated For the Zero AddressEthena Labs · Quantstamp · 28 Sep 2023Fixed
`ecrecover()` is used to recover the signer of a message. If the recovery fails, `ecrecover()` will return the zero address. This can lead to unintended consequences and therefore, the call should revert if the zero address is returned.
Open the reportLowVesting Rate Can Be Slowed by the RewarderEthena Labs · Quantstamp · 28 Sep 2023Fixed
The rewarder can artificially reduce the vesting rate by transferring in rewards with `transferInRewards()` while previous rewards are still vesting. For example, let's assume `VESTING PERIOD = 1 hour` and the initial reward is `600`, so the current rate of vesting is `10` tokens per minute. Then, after 30 minutes pass, the rewarder transfers in another `60` token as a reward. This means the unvested amount is now `360`, which leads to a vesting rate of `6` tokens per minute. However, users should be entitled to the `10` tokens per minute rate for the remaining `300` tokens reward from the initial transfer.
Open the reportLowLack of input validationEthena security assessment · Zellic · 5 Jul 2023Fixed
The report gives no description here.
Open the reportContracts
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