Ethena Labs: USDe is not affected by the Bybit security incident, and all spot assets supporting USDe are stored in an off-chain custody solution

ChainCatcher message, Ethena Labs posted updates related to the Bybit security incident on X:

• All spot assets supporting USDe are held in an off-chain custody solution, including those held by ByBit through Copper Clearloop. No exchange, including Bybit, has spot value.
• The total unrealized PNL (profit and loss) related to Bybit hedge positions is less than $30 million, which is less than half of the reserves.
• Currently, USDe is still over-collateralized.
• All USDe redemptions are proceeding normally, and the liquid stablecoin value supported by USDe is $2 billion, which can be redeemed at any time if users need.

At the same time, Ethena Labs stated that they stand with Bybit and are ready to provide assistance.