DeFi Apps Frontend Targeted in Domain Registry Attack on SquarespaceOn July 11, several decentralized finance (DeFi) apps fell victim to a domain registry attack, according to a post on X by Blockaid. The initial investigation suggests the attacker is targeting domain names hosted by Squarespace, putting any DeFi app using a Squarespace domain at potential risk.The attacker managed to take over the DNS registry for Compound Finance and attempted, but failed, to do the same with Celer Network's registry. The issue first came to light when security researchers noticed the Compound interface at compound.finance was redirecting users to a malicious site. This site featured a drainer app designed to steal users' tokens.At 1:38 pm UTC, Celer Network disclosed that it had also been targeted. However, thanks to its domain monitoring system, Celer detected and intercepted the takeover before any damage could be done. By 3:38 pm UTC, Blockaid had issued a warning that "multiple DeFi front ends are at risk of hijacking, with a few incidents already taking place." The attackers seem to be hijacking DNS records of projects hosted on Squarespace.0xngmi, a developer at DefiLlama, shared a list of potentially affected domains

DeFi and Bitcoin have disrupted the financial world, raising questions about the future of traditional retail banks. DeFi offers decentralized financial services outside of traditional banking. While Bitcoin provides a decentralized and borderless currency. Can retail banks keep up with these disruptive technologies?Decentralized finance has grown exponentially over the past few years, with the total value locked in DeFi protocols reaching over $200 billion at its peak.Indeed, the growth of DeFi has been driven by several factors, including the desire for greater financial control and privacy, the potential for higher returns, and the growing dissatisfaction with the traditional banking system.The Benefits of DeFiSponsored SponsoredTo begin with, DeFi offers benefits over traditional banking, like greater control over financial transactions, lower fees, and more transparency. With DeFi, users have direct control over their funds and can transact with others without the need for middlemen like banks.Consequently, users enjoy lower fees and faster transaction times since there are no third-party fees or delays to contend with. Moreover, the use of blockchain technology in DeFi provides greater transparency and immutability