New details about the “Celer” protocol hack appear… to view it here!
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Answer New details about the “Celer” protocol hack appear… to view it here!
The blockchain network interoperability protocol, Celer’s “cBridge” project, suffered an attack targeting the project’s DNS.
The team reported and provided more details about suspicious DNS activity on August 17.
After investigation, it was found that DNS hijacking was designed to redirect users to interact with compromised smart contracts and eventually drain their credits.
The cBridge frontend UI has been turned off to protect users.
The attacker managed to drain about 128 Ethereum (about $240,000) before discovering the vulnerability, then the hacker transferred it to the Ethereum mixing platform Tornado Cash.
The Celer team revealed that they were able to quickly deal with the attack.Read:France is making big strides towards the digital euro
As a result, only a small portion of users are affected.
The interoperability platform said it would fully compensate all those affected during the breach and urged users to first revoke consent to the breached contracts.
Celer protocol and smart contracts were not affected during the hack.
Celer’s DNS root record has never been hacked and has never been modified.
This incident comes a week after the popular decentralized finance protocol, Curve Finance, suffered an attack that also targeted the DNS, resulting in the hacker draining more than half a million dollars of Ethereum.
The attacker is believed to have raked in approximately 363 ETH (about $617,000 at the time).
According to the team, the “Celer” breach also appears to be similar to the “Curve Finance” breach, which targeted third-party DNS providers and ISPs outside of the project’s control.
After the incident, the team advised the crypto community:
DNS poisoning can happen to any front end of a DeFi application regardless of the security of the private protocol.
Therefore, we strongly suggest the entire crypto community to turn on the Secure DNS option in your private web browser to reduce the possibility of being affected.Read:Regulatory body in India offers guidance on crypto and NFT advertising
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