Curve ‘Strongly Suggests’ Domain Migration to Ethereum Name Service After $570K Frontend Hack
Curve Finance has more clarifications to this week is $570,000 frontend attack.
A recent report conducted with domain registrar company “iwantmyname”, the domain host for the decentralized finance exchange, indicated that Tuesday’s cyber-attack was a result of “DNS cache poisoning, not nameserver compromise.”
On 9th August, Curve announced to the users that it had suffered a frontend cyber-attack wherein the nameserver, curve.fi, was compromised and hacked, leading to $570,000 of Ethereum (ETH) being stolen from users accounts.
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It stated that the platform was targeted through a compromise in the hosted domain name service infrastructure. Hackers cloned the DNS records in the server to mimic the original server, known as DNS cache poisoning.
This attack redirects the users to a page of the attacker is choosing, scamming people into believing that it is the original domain and using the site as usual.
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Beyond outlining the attack methodology, Curve also mentioned that “What has happened strongly suggests to start moving to ENS instead of DNS,” referring to the Cryptocurrency equivalent of DNS—a name source that translates the Internet protocol (IP) address into the page for users—called the Ethereum Name Service.
Moving to ENS, as Curve suggested, will supposedly prevent such frontend hacks from happening in the foreseeable future.
Curve Finance has yet to revert to Decrypt is inquiries on the matter.
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What is Ethereum Name Service?
Etheruem Name Service, or ENS, has been made prevalent of late thanks to its function to turn the long string of letters and numbers that is Cryptocurrency addresses into human-readable addresses.
Instead of that clunky cryptocurrency address, one could instead into something like “satoshi.eth” using ENS. And as you can see, that “.eth” suffix looks similar to the DNS-native “.com.”
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But insofar as the service exists on the Ethereum Blockchain Technology, it is far more safe and potentially resilient to attacks like those suffered by Curve on Tuesday.
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