Ethena Rewards Scam

The Ethena Rewards Scam tricks users into believing they’re accessing an official Ethena platform—only to have their crypto wallets drained almost instantly. It’s urgent to understand how this scam works and how you can protect yourself.

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Threat Summary

Field	Details
Threat Type	Rogue Crypto Scam
Associated Domain	proposal‑ethena.network (fake); real one is ethena.fi
Detection Names	Ethena Rewards Scam
Symptoms	Urgent “vote or lose” airdrop messages, wallet connection requests
Damage & Distribution	Full crypto wallet drain via malicious drainer script
Danger Level	High – irreversible loss of funds due to blockchain immutability
Removal Tool	SpyHunter

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What Is the Ethena Rewards Scam?

The scam masquerades as the legitimate Ethena platform (ethena.fi)—a protocol offering synthetic assets like USDe and sUSDe. Fraudsters use a look‑alike site at proposal‑ethena.network to mislead users. They promote a fake “ENA Rewards Distribution Date” and pressure victims to act fast, tapping into the urgency tactic to override critical thinking.

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How the Scam Tricks You: Wallet Connection Trap

Once you land on the scam site, it pushes you to connect your crypto wallet to claim the “rewards.” The moment you do, malware sneaks in—a drainer script that quietly transfers all your funds out of your control. Because crypto transactions can’t be reversed, you’re left with nothing.

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Why Crypto Platforms Are Prime Targets for Scammers

Several key traits make crypto platforms a favorite hunting ground:

• Irreversible transactions: Unlike banks, crypto transfers can’t be undone—once funds are gone, they’re gone for good.
• Decentralized nature: Pseudonymity protects privacy but also shields criminals from accountability.
• High liquidity: Assets move quickly across borders, making laundering easy and fast.
• New, inexperienced users: Millions enter the crypto sphere each year, often unaware of phishing tactics and scam signs.

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How the Scam Spreads

Fraudulent sites like proposal‑ethena.network don’t pop up randomly—they rely on deceptive distribution:

• Fake or compromised social media accounts, impersonating official profiles to push the site link.
• Malicious ads or pop‑ups, often embedded in adware or shady downloads.
• Compromised websites, especially unsafe torrent or streaming sites, serving as redirect hubs.

These tactics increase legitimacy perception through seemingly normal channels.

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How to Stay Safe Against Crypto Scams

Follow these expert tips to safeguard your funds:

1. Think twice before trusting “free airdrops” or reward offers—especially those urging wallet connections.
2. Always verify website authenticity: Compare domains with the official project documentation or community channels.
3. Don’t click suspicious links from unknown social accounts or pop‑up ads.
4. When in doubt, step away—wallet safety trumps haste.

Eliminating Crypto Scam Threats

Step 1: Identify and Report the Scam

1. Gather evidence (screenshots, emails, transaction IDs).
2. Report the fraud to:
   • Your crypto exchange (Binance, Coinbase, Kraken, etc.).
   • Law enforcement agencies like the FBI’s IC3 (ic3.gov) or the SEC (sec.gov/tcr).
   • The Federal Trade Commission (reportfraud.ftc.gov).
   • Blockchain explorers (like Etherscan) to check your wallet transactions.

Step 2: Uninstall Suspicious Software & Apps

• On Windows: Open Control Panel > Programs & Features → Find & Uninstall suspicious programs.
• On macOS:Go to Finder > Applications → Drag unwanted apps to Trash.
• On Android & iOS: Go to Settings > Apps → Uninstall fake crypto wallets or trading apps.

Step 3: Remove Malicious Browser Extensions

1. Google Chrome:
   • Open chrome://extensions/
   • Remove any unfamiliar or crypto-related suspicious add-ons.
2. Firefox / Edge / Safari:
   • Go to browser settings > extensions → Delete suspicious ones.
3. Clear browser cache & cookies:
   • Open browser settings → Privacy → Clear browsing data.

Step 4: Secure Your Accounts & Wallets

Change passwords immediately for:

• Crypto wallets
• Exchanges
• Email & social media

Enable Two-Factor Authentication (2FA):

• Use Google Authenticator, YubiKey, or Authy.

Move remaining funds to a secure wallet:

• Use a hardware wallet (Ledger, Trezor) instead of online wallets.

Step 5: Scan for Hidden Malware & Keyloggers

Your system may still have spyware, tracking your keystrokes or redirecting you to scam sites. A deep scan is essentialto detect and remove threats.

⏳ For a thorough malware check, use SpyHunter. (See Method 2 below.)

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Automatic Removal with SpyHunter

If you suspect hidden malware, SpyHunter can detect and remove crypto scam-related malware, trojans, and browser hijackers.

Step 1: Download SpyHunter

Download SpyHunter Here

Follow SpyHunter installation instructions here: SpyHunter Download Guide

Step 2: Install and Run SpyHunter

1. Run the SpyHunter installer.
2. Follow the on-screen installation steps.
3. Launch SpyHunter after installation.

Step 3: Perform a Full Malware Scan

1. Click “Start Scan Now”.
2. Let SpyHunter scan for:
   • Crypto-stealing malware
   • Browser hijackers redirecting to fake exchanges
   • Phishing-related spyware

Step 4: Remove All Detected Threats

• Click “Fix Threats” to eliminate malicious programs.
• Restart your system to complete the cleanup.

Step 5: Enable Real-Time Protection for Future Security

Activate SpyHunter’s real-time protection to:

• Block phishing & scam websites
• Prevent future infections
• Monitor system vulnerabilities

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Proactive Prevention: How to Avoid Crypto Scams

• NEVER share your private keys or seed phrases – even with “support teams.”
• Always verify URLs before logging in to exchanges.
• Use only official wallet apps from trusted sources.
• Ignore unsolicited investment offers via Telegram, Discord, and social media.
• Check for HTTPS & security certificates before entering login details.
• Regularly scan your device for hidden malware and spyware.
• Store crypto in a hardware wallet (Ledger, Trezor) rather than online wallets.

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Conclusion

The Ethena Rewards Scam teaches a clear lesson: never give your wallet access to unverified platforms, especially under time pressure. Once connected, malware can wipe your funds instantly—and there’s zero chance of recovery.

Stay vigilant, stay informed—and when in doubt, hold back.