hold or not - Compound Security Breach Has Now Been Fixed

BTC $57260.973 -1.32%

ETH $3094.501 -0.39%

BNB $522.54 -0.80%

XRP $0.458 3.05%

BTC ETH BNB ADA SOL AVAX DOGE LINK TRX

USD EUR GBP JPY AUD CAD CHF CNY

Convert

LIVE UPDATES • Revolutionize Your Crypto Investments with Artificial intelligence! • Compound Security Breach Has Now Been Fixed • $45 Million Coindeal Fraud Case Spurred to Trial by Judge • SEC Crypto Accounting Guidelines Relaxed for Some Companies • New OKX European Hub Will Be Malta To Strictly Comply With MiCA Framework • Judge Denies Coinbase Subpoena Request for Gensler’s Communications, Lawsuit Continues • Pendle Domain Hijacking Be Warned, User Funds Are Safe • A DNS Attack On Squarespace Puts Crypto Domains At Risk, Says CoinGecko COO • BlockDAG’s Dev Release 70 Highlights X1 Miner’s Upgrades as App Goes Live on Apple Store; Presale Value Surges by 1300% • BNB Chain Hack Loses $1.6B, Immunefi Investigation Unveils!

News Compound Security Breach Has Now Been Fixed 1 hours ago - Around 2 mins mins to read

Key Points:

Compound security breach has now been fixed after a phishing attack caused risks to user data and assets.

Compound Labs restored security to the compound.finance site and advised users to verify URLs to avoid fraudulent sites.

The incident highlights ongoing security challenges in DeFi, possibly due to registrar vulnerabilities.

Compound Labs has successfully restored the compound.finance website’s security following a phishing incident that compromised its frontend.

Read more: Hundred Finance Warns Compound V2 Users After Hack

Compound Security Breach: Phishing Attack Targets User

Users are urged to ensure they are visiting the correct website by checking the URLs: “compound.finance,” “app.compound.finance,” or “compoundlabs.xyz.” Any deviation from these URLs may lead to a fraudulent site.

The incident, confirmed by Michael Lewellen, the Compound’s Security Advisor, involved a sophisticated phishing attack where the legitimate site was replaced with a malicious counterpart. Despite the Compound security breach, its smart contract funds remain secure.

Security experts like ZachXBT and members of the Compound Finance team have cautioned users against interacting with the compromised site to avoid potential data and asset losses.

DeFi Security Concerns Amplified by Domain Hijacking Incidents

Compound Finance, a prominent decentralized finance (DeFi) platform allowing token deposits, lending, and borrowing on the Ethereum blockchain, manages nearly $3 billion in assets. This incident underscores ongoing security challenges within the DeFi sector.

Meanwhile, similar attacks have affected other blockchain projects, including Celer Network with broader concerns about web infrastructure vulnerabilities. Celery Urges users not to visit Celer.network and cbridge.Celer.network while they are investigating a potential DNS domain attack. Experts suspect the Compound security breach and other attacks may be linked to vulnerabilities at Squarespace, the registrar handling these projects’ domains.

Celer Network Compound compound finance Compound Security Breach DeFi Phishing attack

Author Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Related Posts

Bitcoin Spot ETFs See $216M Net Inflow, BlackRock and Fidelity Lead Gains! New Paxos Singapore Executive Director Appointed to Enhance Market Expansion Suriname Presidential Candidate Promotes Bitcoin As New Legal Tender Protecting Investors: South Korea Enforces Customer Refunds for Failed Crypto Exchanges DefiLlama Founder Warns: 100+ Crypto Domains Vulnerable to Attacks! Jupiter To Launch Ape Meme Coin Platform Trading At 0.069% Fee Bitcoin Price Performance Ranks No. 1 Among Asset Classes Jerome Powell Signals No Rate Cuts Amid Weak Inflation Data!

News

Compound Security Breach Has Now Been Fixed