Compound Finance’s website was hijacked by hackers, redirecting users to a phishing site, but the protocol’s smart contracts and funds remain secure.
ZachXBT’s Alert and Confirmation of Breach
Compound Finance, a prominent decentralized finance (DeFi) lending platform backed by Coinbase and a16z crypto, has suffered a significant security breach. On July 11, crypto investigator ZachXBT revealed via their official Telegram channel that the Compound Finance website had been hijacked, redirecting users to a newly registered phishing site.
ZachXBT, known for their diligence in uncovering crypto scams, issued a stern warning to the crypto community:
“Community Alert: Compound Finance website seems to potentially be hijacked. Do not visit the site for the time being. Currently redirects to a newly registered phishing site.”
They identified that the legitimate Compound Finance website was redirecting visitors to the “compound-finance[dot]app,” a domain that convincing
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