Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Compound Finance confirms hack, warns users of phishing from website

Compound Finance confirms hack, warns users of phishing from website

Cryptobriefing2024/07/11 11:52
By:Cryptobriefing

Key Takeaways

  • Compound Finance's primary domain was hijacked, and currently redirects to a phishing site.
  • Despite the website compromise, Compound protocol and smart contract funds remain secure.

Compound Labs issued an urgent warning via its official X account at 5:15 AM EDT on July 11, confirming that a hack on their compound[.]finance site has occurred.

Compound Security Advisor Michael Lewellen confirmed the breach on X, advising users to not interact with the Compound Finance website until further notice. Lewellen stated that while the website has been compromised, the Compound protocol remains unaffected, and all smart contract funds are secure.

The incident appears to be a sophisticated phishing attack involving domain hijacking. The legitimate Compound Finance website has been replaced with a fraudulent site designed to steal user information and potentially their digital assets.

Prior to the confirmation from Compound, onchain investigator ZachXBT issued a warning on Investigations, his crypto community Telegram channel, to avoid using the Compound Finance website due to it redirecting to a scam site compound-finance[.]app. The warning from ZachXBT was sent at 2:48 AM EDT. It remains unclear whether the gap between ZachXBT’s initial disclosure and the confirmation by the protocol has resulted in significant damages.

This breach follows a previous security incident last year where Compound Finance’s X account was hacked and used to promote a phishing site, resulting in a reported loss of approximately $4.4 million LINK tokens.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Nexchain Raises $1.5 Million in Presale: Is This the Top ICO of 2025?

Nexchain has actual tech, a trustworthy team, a clear plan, and a utility and long-term coin. Its $1.5 million early success is more than hype, it shows that seasoned investors see the possibilities.Nexchain: Best Crypto ICO of 2025Other Major Crypto Presales to Look Out ForFinal Words: Nexchain, the High-Potential ICO to Invest In

Coinomedia2025/05/13 19:00
Nexchain Raises $1.5 Million in Presale: Is This the Top ICO of 2025?

Anchorage Digital Buys USDM Issuer Mountain Protocol

Anchorage Digital acquires Mountain Protocol to boost its stablecoin portfolio with regulated USDM.Anchorage Digital Expands with Mountain Protocol AcquisitionWhy This Acquisition MattersA Growing Role in Crypto Banking

Coinomedia2025/05/13 19:00
Anchorage Digital Buys USDM Issuer Mountain Protocol

$6B USDT Inflows Spark Altcoin Surge

Tether injects $6B into the market, fueling altcoin momentum as Ethereum gains dominance.Altcoin Rally Fueled by USDT InjectionsEthereum Gains, Bitcoin Loses GroundAltcoins Catch the Momentum

Coinomedia2025/05/13 19:00
$6B USDT Inflows Spark Altcoin Surge

Can Unstaked 1000x & Hit Top 30 Market Cap? Analysts Think So – More on Ethereum Insights, Pi Price Surge

Unstaked’s $0.008481 presale could deliver 1000x returns and a top 30 market cap. Get expert insights on Ethereum’s Pectra upgrade and the latest Pi (PI) price surge.Unstaked: The Next MATIC Moment?Ethereum (ETH) Insights: Pectra Upgrade Sparks OptimismPi (PI) Price Surge: Can It Break Out of Consolidation?Wrapping Up

Coinomedia2025/05/13 19:00
Can Unstaked 1000x & Hit Top 30 Market Cap? Analysts Think So – More on Ethereum Insights, Pi Price Surge