Decentralized Finance Giant Compound Finance's Frontend Compromised, Hosting Phishing Site

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Cointime2024/07/11 12:14

By:Cointime

Compound Finance, a decentralized finance platform, has reported that its frontend was hacked and now hosts a phishing site. Phishing attacks are a major concern in the cryptocurrency market, with over $104 million stolen from unsuspecting users in the first two months of 2021 alone. The phishing site leads to a draining tool that will empty funds if a user interacts with it, but the actual Compound protocol remains unaffected and all existing user deposits are safe. Despite the hack, Compound remains one of the biggest DeFi services in the industry, holding over $2.3 billion worth of assets as of Thursday.

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.

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