Compound Finance Website Restored After Domain Attack, Smart Contracts Unaffected

As an upsetting news to the crypto community which later turned pleasant when the site was restored, Compound Labs’ official website

Crypto investigator ZachXBT alerted people to avoid the official Compound Finance website, claiming that the domain had been compromised.

On the 11th of July, the security investigator shared a post in his telegram channel popular among the community members and asked people not to visit the website as it was redirecting to a newly created phishing site which posed a threat to the security of the users’ accounts.

The investigator also shared a screenshot of the phishing site which was created on the same day and had managed to garner a total of 13 visitors so far.

The phishing site was designed to look like the official Compound Finance website and had a URL that differed from the original by only a few characters. Upon visiting the site, users were prompted to connect their Web3 wallets. If they did so, their crypto assets would have been drained by the attackers.

The original post by ZachXBT read:

“Don't go to the official Compound Finance website. It's redirecting to a new phishing site (13 visitors). Screenshot below.”

After being alerted about the domain attack, the Compound Finance team took swift action and asked the users to stay away from the site and not click on any of the links related to the site until further notice.

The team also stated that the attack was not on the protocol or smart contract layer and that the smart contracts were still intact.

This is important because it means the fundamental parts of the Compound protocol as well as its security features are preserved.

“That is not at the protocol level; the smart contracts are still intact,” the team stated.

To ensure safety, users are advised to restart their browsers and verify the URL before visiting and only click on the genuine URLs.

Compound Labs has promised to provide further details on the investigation soon.