Ambient Finance Reclaims Control of Compromised Site, Warns Users to Await Updates

Ambient Finance recently became the latest decentralised finance (DeFi) protocol targeted by front-end attacks from unknown cybercriminals.

On 17 October, the platform alerted its users to a Domain Name System (DNS) issue on its website, stemming from compromised domain registrar credentials.

Such DNS exploits are typically used to steal assets by embedding malicious links into a site.

Despite the breach, Ambient Finance confirmed that its smart contracts and on-chain infrastructure were not affected.

However, users were strongly advised to avoid visiting the website, connecting wallets, or signing transactions until further notice to protect their assets.

While the platform quickly regained control of its domain, it is still awaiting DNS updates before restoring full functionality.

Users have been urged to wait for an official "all clear" before interacting with the site again.

Growth in DeFi Sector Attributed to Surge in Cyberattacks

The rise in cyberattacks targeting DeFi and crypto platforms highlights ongoing security vulnerabilities despite the rapid expansion of the on-chain sector.

Last September, Ethereum-based automated market maker Balancer suffered a front-end breach following a social engineering attack.

Similarly, several DeFi platforms lost control of their domains during a widespread DNS attack in July, and Ethena Labs temporarily suspended its website last month due to security concerns.

Despite these threats, users continue to flock to blockchain services, with DeFi maintaining its popularity amid the growing adoption of cryptocurrencies.

Andreessen Horowitz's 16 October report underscores this trend, noting a surge in crypto usage throughout 2024.

The report pointed out:

“Since DeFi's arrival in the summer of 2020, decentralized exchanges, or DEXs, have grown to account for 10% of spot crypto trading activity — all of which occurred on centralized exchanges just four years ago.”