Proportion of BSC DeFi Projects under DNS Hijack Threat, CZ Binance Cautions

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CZ Binance alerts that a number of DeFi-related ventures on the Binance Smart Chain, including PancakeSwap and Cream Finance, are under DNS hijacking attacks.

PancakeSwap, the largest and most successful decentralised cryptocurrency exchange and automated market maker (AMM) on Binance Smart Chain, may have hijacked its DNS. Cream Finance is under pressure as well.

 

  • In a tweet shared minutes ago, PancakeSwap’s official account revealed that the platform might have had its DNS (Domain Name System) hijacked.

Before we can check that this is not the case, do not use the web. We’re going to check ASAP. In the end, it’s better safe than sorry. – The team said that.

  • No further details were revealed as of the time of this writing and so far, the price for the platform’s native token CAKE doesn’t seem to have reacted.
  • Just about an hour ago, another popular DeFi-related project, Cream Finance, shared similar news.

 

  • Apparently, a malicious third party is sending requests for seed phrases.
  • CZ, Binance’s CEO, has also warned of the issue.

A number of DeFi projects are under DNS hijack attack. Pancake, Cream, etc. Please be VERY VERY careful and not use them until they recover the situation… – he said.

  • As the DeFi space continues to boom, it’s important to remember that there are bad actors in the space trying to exploit protocols into scamming people out of their money.
  • With this said, you should never reveal your seed phrase to anyone. In addition, employing appropriate security measures will help safeguard your cryptocurrencies.
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