Compound

Pendle

Celer Network

Read

Domain

<p class="is-style-lead">At least two defi protocols reported compromised domains in an apparent hacking campaign targeting crypto websites.</p>
<p>On Thursday, Celer Network and Compound Finance alerted the crypto community to an ongoing attack on their domain addresses. “We are investigating a potential&nbsp; DNS domain attack that seems to be hitting multiple projects at the same time,” the notice from Celer read.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">🚨 URGENT: The Compound Labs website (compound[.]finance) has been compromised. <br><br>Please do not visit the website or clink any links until further notice. An update will be provided when available. <br><br>This is our final message // end of tweet. 🚨</p>— Compound Labs (@compoundfinance) <a href="https://twitter.com/compoundfinance/status/1811328333063520683?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 11, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>A Domain Name System (DNS) involves stressing the stability of DNS service to gain control over a website and possibly redirect traffic to phishing hotspots.&nbsp;</p>
<p>Security experts said multiple decentralized finance protocols might be under siege by threat actors looking to steal funds. Some 11 platforms, including Pendle Finance, Polymarket, and THORChain, were named as potential targets.&nbsp;A partial list of websites at risk of being hacked may be found <a href="https://gist.github.com/0xngmi/789e297f3107d3c28c56da7acf11828d" target="_blank" rel="noopener noreferrer nofollow">here</a>.</p>
<p>You might also like: <a href="https://crypto.news/crypto-market-falls-ahead-of-the-us-cpi-data-release/" rel="noopener noreferrer nofollow"> Crypto market falls ahead of the US CPI data release </a></p>
<p>According to Paradigm research <a href="https://x.com/samczsun/status/1811367830564307451" target="_blank" rel="noopener noreferrer nofollow">samczsun</a>, the hack likely originated from Google Doman accounts used by these protocols. Squarespace acquired Google Domains last year in a $180 million deal, and all websites associated with the company are currently under scrutiny.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">multiple crypto projects have had their domains mysteriously hijacked from their <a href="https://twitter.com/squarespace?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@squarespace</a> account. consider transferring your domain to one of these instead:<br>– <a href="https://twitter.com/Cloudflare?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@Cloudflare</a><br>– <a href="https://twitter.com/awscloud?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@awscloud</a> Route53<br>– <a href="https://twitter.com/markmonitor?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@markmonitor</a><br>– <a href="https://twitter.com/CSCDBS?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@CSCDBS</a></p>— samczsun (@samczsun) <a href="https://twitter.com/samczsun/status/1811367830564307451?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 11, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>At press time, neither Celer Network nor Compound Finance disclosed that the threat had been mitigated. In the meantime, users are advised to avoid interacting with defi dapps until further notice.&nbsp; Additionally, no funds had been reported stolen due to the DNS attack.&nbsp;</p>
<p>The matter underscores the need for defensive vigilance as hackers seek to compromise Web3 solutions via their Web2 connections. Last September, automated market maker Balance <a href="https://crypto.news/balancer-dao-salutes-defi-response-team-for-aid-in-230k-ui-exploit/" rel="noopener noreferrer nofollow">suffered</a> a front-end attack. Before that, a bug in a code compiler employed by <a href="https://crypto.news/?s=CURVE+FINANCE" rel="noopener noreferrer nofollow">Curve Finance</a> allowed bad actors to siphon over $70 million in crypto and exploit several protocols.</p>
<p>Since then, white-hat security experts have assembled efforts to mitigate the growing threat in crypto and Web3. Initiatives like the first-responder Telegram bot <a href="https://crypto.news/?s=SEAL+911" target="_blank" rel="noopener noreferrer nofollow">SEAL 911</a> and <a href="https://crypto.news/kraken-coinbase-form-blockchain-council-to-develop-crypto-security-standards/" target="_blank" rel="noopener noreferrer nofollow">security councils</a> featuring industry leaders like Coinbase have emerged to combat the issue.</p>
<p>Read more: <a href="https://crypto.news/crypto-isac-launched-to-bolster-web3-security/" rel="noopener noreferrer nofollow"> Crypto ISAC launched to bolster web3 security </a></p>

DeFi protocols compromised as many domains under DNS siege

crypto.news

Other articles published on Jul 11, 2024

SEC Faces Backlash from Uniswap Labs Over Proposed DeFi Regulations

SEC Investigation Into Paxos Now Ends With Softer BUSD Classification

3 Hidden Altcoins That Could Turn $100 into $100,000 in This Bull Run

Will Spot Ethereum ETFs Follow The Same Process As Spot Bitcoin ETFs?

DOT Sees Notable Price Movement

Dogecoin (DOGE) Skyrockets 868% in Bullish Whale Activity

Join our free newsletter for daily crypto updates!