Company: TLGYF
Filing Date: 2025-09-29
Form Type: S-4
Source: 0001213900-25-092592
Chunk: 188

Company: TLGY ACQUISITION CORP
Filing Date: 2025-09-29
Form: S-4
Chunk 188
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 and confirmed that the core protocol was not compromised. In March 2024, scammers created a fake ENA Token on the BNB Chain following the announcement of the launch of ENA Token on the Binance Launchpool. While this was not a security breach nor a vulnerability on the Ethena Protocol, the scam led to a loss of about 480 BNB tokens from unsuspecting users who bought the fake ENA Token. A successful security breach or cyberattack could result in: •a partial or total loss of our ENA Token in a manner that may not be covered by insurance or the liability provisions of the custody agreements with the custodians who hold our ENA Token; •harm to our reputation and brand; •improper disclosure of data and violations of applicable data privacy and other laws; or •significant regulatory scrutiny, investigations, fines, penalties and other legal, regulatory, contractual and financial exposure; Further, any actual or perceived data security breach or cybersecurity attack directed at other companies with digital assets or companies that operate digital asset networks, regardless of whether we are directly impacted, could lead to a general loss of confidence in the broader Ethena ecosystem or in the use of the proposed Converge network or any other network validation opportunities in the Ethena ecosystem utilizing ENA Token to conduct financial transactions, which could negatively impact us. Attacks upon systems across a variety of industries, including industries related to digital assets, are increasing in frequency, persistence and sophistication, and, in many cases, are being conducted by sophisticated, well -fundedand organized groups and individuals, including state actors. The techniques used to obtain unauthorized, improper or illegal access to systems and information (including personal data and digital assets), disable or degrade services, or sabotage systems are constantly evolving, may be difficult to detect quickly, and often are not recognized or detected until after they have been launched against a target. These attacks may occur on our systems or those of our third -partyservice providers or partners. We may experience breaches of our security measures due to human error, malfeasance, insider threats, system errors or vulnerabilities or other irregularities. In particular, unauthorized parties may attempt, to gain access to our systems and facilities, as well as those of our partners and third -partyservice providers, through various means, such as hacking, social engineering, phishing and fraud. Any such security breach or cyberattack could result in slashing penalties for misbehavior or downtime, vulnerabilities in staking protocols or custody systems, attacks on validator infrastructure