Compound Website Hacked! Phishing Attack Resolved, User Caution Advised

Breaking news for crypto users! The popular lending platform, Compound Labs, just faced a scare. Their official website was compromised, potentially putting your account security at risk. But fear not.

The initial distress was quickly alleviated when the site was successfully restored. This breach prompted immediate action and a stern warning to the crypto community. Users were advised to avoid the site and refrain from clicking on any related links until further notice.

Crypto investigator ZachXBT quickly alerted the community, urging people to steer clear of the official Compound Finance website. On July 11th, ZachXBT posted on his popular Telegram channel, warning that the domain had been compromised and was redirecting users to a newly created phishing site, posing a significant security threat.

Swift Response and Recovery

Thanks to the relentless efforts of the security community and Compound Labs, the website was swiftly restored to its secure state.

“Thanks to the tenacious efforts of so many in the community, the [compound. finance] website is working once again,”

While users can now safely access the site, they are still advised to remain vigilant against phishing scams.

Precautionary Measures and Ongoing Investigation

To maintain user confidence, Compound Labs clarified that the breach did not affect the protocol or smart contract layer. This distinction is crucial, as it means the core components and security features of the Compound protocol remain secure.

Users are advised to restart their browsers, verify the URL before visiting, and only click on genuine URLs to ensure their safety. Compound Labs has pledged to provide further details on the investigation soon, aiming to reinforce trust within the community.

Crypto Security: A Community Effort. Let’s keep it that way!