DNS Hijacks

DeFi Platforms PancakeSwap, Cream Finance Hit With ‘DNS Hijacks’

DNS Hijacks

DeFi platforms PancakeSwap and Cream Finance were hit by domain name system (DNS) hijackings. Later on Tuesday, both platforms announced they have regained control of its DNS and their sites are safe to use. 

According to tweets from both PancakeSwap and Cream Finance, the hijacker is asking for users to input the 12-word seed phrase. By obtaining the seed phrase, which is unique to each crypto wallet, hijackers can steal funds from investor accounts.

Both PancakeSwap and Cream Finance issued warnings on social media, urging users to stay away from the applications during the period.

A DNS hijacking allows an attacker to present a fraudulent web portal to visiting users. The attacks often aim at collecting personal information — in this case, the private keys to steal their funds. 

There is no sign of hacking slowing down in 2021: last week, decentralized exchange Dodo was hacked for nearly $4 million.

This Sunday, Roll, a platform for issuance of social tokens and NFTs, reported a security breach on its platform. Hackers have stolen at least 3000 ETH (about $5.7 million) after breaching the security of Roll. 

A number of social tokens, such as $WHALE, $RARE, and $PICA, significantly tanked after the attack.


Hackers Reportedly Targeting NFT Marketplace Nifty Gateway

Lately, Twitter users reported that hackers have stolen the whole NFT collections in their accounts on NFT marketplace Nifty Gateway. 

Nifty Gateway told Decrypt that there had been no indication of compromise of the platform. The attackers accessed the accounts using valid credentials. 

The NFT marketplace noted that its analysis of the event is ongoing, adding that users should follow security precautions including enabling 2FA and never reusing passwords.

The market for NFT has boomed in recent months. Artists and celebrities such as Aphex Twin, Grimes and Rob Gronkowski have released their own NFTs. 

Additionally, Tesla CEO Elon Musk is getting on the NFT wave by selling a song about NFTs as a non-fungible token. The song is a techno track with simple, repeating lyrics: “NFT for your vanity, computers never sleep, it’s verified, it’s guaranteed.”