On the 14th of May, QuickSwap announced that its DeFi protocol had been hijacked. The protocol’s team quickly warned its community members on Twitter to abstain from swapping tokens on the decentralized exchange.
QuickSwap users were reassured that their wallets were safe after the attack as the attackers could not extort funds from users’ wallets. Also, investors who had funds in liquidity pools, dragon’s lair, and syrup pools had nothing to worry about. All funds were still intact.
Later that day, the QuickSwap team clarified that its smart contracts were still intact, and all funds with the protocols were untouched. However, the hackers exploited GoDaddy, the platform on which the QuickSwap domain operated, and all other protocols hosted on GoDaddy were also affected.
The attackers also used imitation versions of the protocols to interact with users. The goal the hackers had was to phish private information from users of the protocol.
While QuickSwap did not reveal if any users fell prey to the attack, the DeFi protocol later informed its followers on Twitter that it had regained access to the domain. Notably, among all the affected protocols, QuickSwap was the first to regain access to its domain.
After it regained access to its domain, QuickSwap lent a helping hand to other affected protocols.
The DeFi swap platform still warned its users to exercise caution while trading and ensure that their private details were not given away. The team also assured community members that they worked hard to prevent the attack from repeating itself.
QuickSwap gave out its official domains once again to protect users from being extorted. Only quickswap.exchange and beta.quickswap.exchange should be used for swapping.
Interestingly, the hijacking of the domain did not affect the price of QuickSwap’s native token. QUICK is currently valued at $82.6 and is up by 7% in the last 24 hours.
