Compound Finance confirms website hack redirecting users to phishing site


DeFi
platform
Compound
Finance
has
suffered
a
significant
security
breach
that
has

affected
its
official
website.
The
protocol’s
domain
has
been
hijacked
and
is
currently
hosting
a
phishing
site,
posing
a
severe
user
risk.

Per
Compound
Labs’
official
X
account,
the
company
issued
an
urgent
warning
at
10:15
A.M.
on
July
11,
stating,

“The
Compound
Labs
website
(compound[.]finance)
has
been
compromised.
Please
do
not
visit
the
website
or
click
any
links
until
further
notice”.

Michael
Lewellen,
Compound’s
Security
Advisor,

confirmed
the
breach
on
X,
emphasizing
that
users
should
not
interact
with
the
Compound
Finance
website.
Lewellen
clarified
that
while
the
website
has
been
compromised,
the
Compound
protocol
remains
unaffected,
and
all
smart
contract
funds
are
secure.

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The
incident
appears
to
be
a
sophisticated
phishing
attack.
The
legitimate
Compound
Finance
website
has
been
replaced
with
a
fraudulent
site
designed
to
steal
user
information
and
potentially
their
digital
assets.
This
type
of
attack,
known
as
domain
hijacking,
involves
taking
control
of
a
domain
name
without
the
owner’s
consent,
usually
via
a
breach
of
DNS
credentials.

Blockchain
investigator
ZachXBT
has

warned
the
crypto
community
via
Telegram
to
avoid
using
the
Compound
Finance
website
due
to
it
redirecting
to
a
scam
site
compound-finance[.]app.

Compound
Finance
DNS
attack
(ZachXBT)

This
incident
follows
a
previous
security
breach

last
year,
where
Compound
Finance’s
X
account
was
hacked
and
used
to
promote
a
phishing
site.
That
attack
resulted
in
a
reported
loss
of
approximately
$4.4
million
LINK
tokens.

The
crypto
community
is
advised
to
exercise
extreme
caution
and
avoid
interacting
with
the
Compound
Finance
website
until
official
confirmation
is
provided
that
the
issue
has
been
resolved.
Users
should
remain
vigilant
against
potential
phishing
attempts
and
only
rely
on
official
communications
from
Compound
Labs
regarding
updates
on
the
situation.

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Additionally,
web3
security
tools
and
browser
extensions
can
help
advise
users
of
malicious
links.
Some
examples
include
Malwarebytes
Browser
Guard,
AegisWeb3,
Pocket
Universe,
Wallet
Guard,
and
MetaMask
transaction
insight
Snaps.


[Author’s
Note:
I
use
Pocket
Universe,
which
has
saved
me
several
times,
but
we
cannot
endorse
any
product
or
tool.]

Mentioned
in
this
article
Posted
In:

Crime,

DeFi,

Hacks

Go to Source
Author: Liam ‘Akiba’ Wright


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