Compound Finance Website Potentially Hijacked, Blockchain Sleuth Warns

Compound Finance, a decentralized finance lending platform backed by Coinbase and a16z crypto, has allegedly fallen victim to a hacker attack after its website began redirecting users to a different domain.

Decentralized finance lending platform Compound Finance has reportedly fallen victim to a phishing attack, with its website redirecting users to a different domain.

On July 11, blockchain sleuth ZachXBT took to Telegram to warn users about a phishing domain redirect, which sends visitors from the legitimate Compound Finance website to “compound-finance[dot]app”, a domain that fully mimics the original version.

As of press time, Compound Finance has yet to make any public statements on the matter, with ZachXBT suggesting that Compound’s website “seems to potentially be hijacked.”

Crypto.news has reached out to Compound Finance and will provide an update to this article if we receive a response.

Founded in 2017 by Robert Leshner and Geoffrey Hayes, Compound Finance enables users to lend and borrow crypto without the need for intermediaries, thanks to its utilization of smart contracts.

In 2019, the firm reportedly secured $25 million in Series A funding, which was led by Andreessen Horowitz’s a16z crypto and included participation from other investors like Polychain Capital and Bain Capital. The platform also received funding from Coinbase Ventures, Paradigm, and Dragonfly Capital, among others.