- PancakeSwap and Cream Finance experienced DNS hijacks.
- PancakeSwap claims that they have already regained access to the DNS.
- DODO platform also experienced a hack last week.
Decentralized Finance (DeFi) projects PancakeSwap and Cream Finance reportedly came under attack by hackers. According to their tweets, the projects’ DNS had been compromised.
Users who visit both DeFi projects’ websites received a pop-up requesting their seed phrase. While PancakeSwap claims to have recovered DNS, Cream Finance seemed to be still compromised at press time.
(1/3) We just got confirmation that the DNS had fully propagated and we are back!
It’s been a long 24 hours, but trading and farming never stopped!
We’re reaching out to all of the sites that helped up to add notes or alerts etc and they should be removed shortly. pic.twitter.com/mPfoFrQHPA
— PancakeSwap 🥞 #BSC (@PancakeSwap) March 16, 2021
The platforms have confirmed that user’s funds will remain safe as long as they do not enter their seed phrases. Both PancakeSwap and Cream Finance are currently managing or regaining control over their DNS servers. In addition, Cream Finance and PancakeSwap are advising users to stay away from the applications until the hijack is addressed.
PancakeSwap also told his users that their funds are safe with them.
However, the companies advised users who entered their seed phrase into the breached website that their funds are at risk. So they should do well to withdraw them.
Investors must be well aware that their investments in the DeFi space can be compromised due to the alarming attack rate on the sector’s protocols. With 2021 just beginning, the malicious attacks are not slowing down, as we have witnessed a massive amount of hack since the start of the year. Last week, DODO also got hacked as the hackers were able to cart away close to $4 million from the protocol.