May 29, 2024
Compound Finance Twitter Account Compromised in Phishing Scam
Latest Cryptocurrency News

DeFi Protocol Compound Finance’s Official Account Hacked

Compound Finance’s X account, fell victim to a hack that resulted in the promotion of a fraudulent phishing site, as confirmed by security-focused accounts like Scam Sniffer and Officer’s Notes.  At 4:57 p.m. UTC, the compromised account shared an enticing advertisement promising free $COMP tokens, directing users to a provided link. This link redirected to compound-labs.xyz, an imitation of Compound Finance’s official website (compound.finance) designed explicitly to deceive visitors.

Officer’s Notes, a cybersecurity blogger, issued a warning via their account at 5:14 UTC, advising against clicking on any links within the post. Simultaneously, Scam Sniffer, a blockchain security platform, notified users of the presence of a phishing link (compound-labs[.]xyz) detected 16 hours prior, originating from the authentic X account.

Scam Sniffer’s report labeled the fraudulent site being promoted as a “Pink Drainer scam website,” indicating its utilization of the Pink Drainer software to illicitly acquire users’ cryptocurrency. Additionally, the post mentioned that ZachXBT, a blockchain investigator, had successfully tracked the stolen funds, which were subsequently laundered through the eXch exchange.

Image by freepik

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