Decentralized Exchanges Velodrome and Aerodrome Warn of Website Compromise
Velodrome and Aerodrome, two decentralized exchanges, have issued warnings to their users regarding a compromise of their websites. The attack seems to be a domain name system (DNS) attack, aimed at taking control of the official website links of velodrome.finance. In such situations, hackers gain control of a site and redirect users to a phishing site associated with a malicious contract in an attempt to steal their funds.
Both Velodrome and Aerodrome have advised users not to interact with their websites until further notice. The teams are currently investigating the compromise and will provide updates as they gather more information.
The DNS is a widely used protocol that websites rely on. However, attackers can exploit DNS vulnerabilities to carry out attacks, as seen in this incident.
Impact on User Assets
While there hasn’t been an official statement regarding the impact on user assets, on-chain analyst ZachXBT has detected over $40,000 in funds being transferred to two specific addresses, likely taken during the attack.
Velodrome is the second largest decentralized exchange protocol on OP Mainnet (previously Optimism) in terms of total value locked and revenue, with over $139 million in total locked value from users. On the other hand, Aerodrome is the largest protocol on Base by TVL, holding over $63 million in funds.
Hot Take: Decentralized Exchanges Face Website Compromise
The recent compromise of decentralized exchanges Velodrome and Aerodrome’s websites highlights the ongoing security challenges faced by crypto platforms. This incident serves as a reminder for users to exercise caution while interacting with online platforms and to stay updated on any security alerts from the platforms they use. With the increasing popularity of decentralized exchanges, it becomes crucial for these platforms to prioritize security measures and proactively address vulnerabilities to protect user assets. As the crypto industry continues to evolve, it is essential for users to remain vigilant and informed to mitigate potential risks.
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