On July 11, blockchain security firm PeckShield reported that the website of Compound Finance had been compromised.The incursion was also reported by blockchain sleuth ‘ZachXBT’ on his investigations Telegram channel. The Compound Finance website seems to “potentially be hijacked,” he said before adding, “do not visit the site for the time being.”There was nothing about the incident on the official Compound Labs X account.
Domain name hijacking is when hackers gain unauthorized access to and control over a website’s domain name in order to redirect its users to a fraudulent site.the domain registrar account through social engineering or phishing attacks, or exploiting vulnerabilities in the domain management system. However, there was no further information on this incident at the time of writing.
Hackers often target crypto platforms in order to steal sensitive information by redirecting users to a fake site to collect login credentials or personal data or to spread malware that could steal crypto assets.It currently has a total value locked of $2.17 billion, which is down 83% from peak levels in November 2021,The DeFi platform’s native token, COMP, hasn’t reacted to the website hijacking and remained flat on the day, trading at $47.88 at the time of writing.
However, like most DeFi assets, it has been heavily battered from its all-time high. COMP is currently down almost 95% from its lofty peak of $910 in May 2021, according to CoinGecko.Frax Finance Founder Claims Inside Job at X Resulted in Account HackBest AI Crypto Coins in 2024: Top 9 Projects to WatchSign-up FREE to receive our extended weekly market update and coin analysis report
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
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