According to Cointelegraph: Crypto investigator ZachXBT has alerted the community to avoid using the Compound Finance website due to a potential security breach. According to a post by ZachXBT on Telegram, the website appears to have been hijacked and may be redirecting visitors to a newly registered phishing site.
Details of the Warning
On July 11, ZachXBT issued a warning on Telegram advising users to stay away from the Compound Finance website until further notice. The investigator highlighted that the website is redirecting users to a phishing site, posing a significant security risk. This could lead to the theft of personal data and funds from unsuspecting users.
Status of the Breach
While the breach has not yet been officially confirmed by Compound Finance, the warning from a reputable security investigator has prompted immediate concern within the crypto community. Users are urged to exercise caution and refrain from interacting with the Compound Finance website to mitigate the risk of potential losses.
Response from Compound Labs
Cointelegraph has reached out to the Compound Labs team for comments on the situation but has not yet received a response. The community is awaiting an official statement from Compound Finance to confirm the breach and provide guidance on how to proceed safely.
Security Recommendations
In light of the potential breach, users are advised to:
Avoid Visiting the Website: Refrain from accessing the Compound Finance website until further notice.
Monitor Accounts: Regularly check and monitor cryptocurrency accounts for any suspicious activity.
Use Official Channels: Follow official Compound Finance and trusted crypto news sources for updates on the situation.