2 months ago
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The DeFi protocol has warned its users not to visit the official site as a phishing attack redirects to malicious sites.
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. <?xml encoding="UTF-8"?>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.
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.
A bug in the Compound Finance protocol allowed exploitative claims, draining $22 million in tokens, with a prior bug draining $80 million as reported on October 2021.
Earlier this week in October 2021, $80 million in COMP tokens were left at risk due to a malfunction in a Compound Finance protocol upgrade.
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