Celer and Compound Hacked: dYdX, Pendle, and Other DeFi Platforms at Risk
07/11/2024 20:47
Hackers breached Celer and Compound websites, raising alarms about potential risks to other major DeFi platforms like dYdX and Pendle.
Hackers targeted the websites of prominent decentralized finance (DeFi) platforms Celer and Compound Finance.
The breaches have alarmed the DeFi community, prompting warnings of potential risks to other major platforms.
Cybersecurity Alert: DeFi Giants Celer and Compound Under Attack
Compound Labs, the team behind Compound Finance, recently announced that its website has been compromised. The team urged users not to visit the website or click any links until further notice and promised to provide updates when available.
Around three hours after Compound Labs’ announcement, Celer Network issued a similar warning. It cautioned its users not to access its official website and bridge website.
The team stated that they are currently “investigating a potential DNS domain attack that seems to be hitting multiple projects at the same time.” Despite this warning, Celer Network assures that the systems and funds are safe.
Read more: Crypto Project Security: A Guide to Early Threat Detection
Blockchain security experts, including 0xngmi, the founder of DefiLlama, and Samczsun, a researcher at Paradigm, have weighed in on the situation. They suspect vulnerabilities in Squarespace, the website registrar, may be linked to the breaches.
0xngmi pointed out that around 65 other DeFi platform domains connected to Squarespace might be at risk. Big names like Pendle and dYdX are also on the list. 0xngmi urged the community to avoid these websites on the list for now.
“Consider transferring your domain to one of these instead: Cloudflare, AWS Cloud, Route 53, MarkMonitor, or CSCDBS,” Samczsun added.
Read more: Top 5 Flaws in Crypto Security and How To Avoid Them
These latest incidents showcase the importance of security in DeFi. Affected platforms are expected to provide detailed updates as more information becomes available. Meanwhile, the broader DeFi community remains on high alert, seeking to fortify defenses against similar threats.
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Lynn Wang is a seasoned journalist at BeInCrypto, covering a wide range of topics, including tokenized real-world assets (RWA), tokenization, artificial intelligence (AI), regulatory enforcement, and investments in the crypto industry. Previously, she led a team of content creators and journalists for BeInCrypto Indonesia, focusing on the adoption of cryptocurrencies and blockchain technology in the region, as well as regulatory developments. Prior to that, at Value Magazine, she covered...
Lynn Wang is a seasoned journalist at BeInCrypto, covering a wide range of topics, including tokenized real-world assets (RWA), tokenization, artificial intelligence (AI), regulatory enforcement, and investments in the crypto industry. Previously, she led a team of content creators and journalists for BeInCrypto Indonesia, focusing on the adoption of cryptocurrencies and blockchain technology in the region, as well as regulatory developments. Prior to that, at Value Magazine, she covered...
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