Crypto Beginner

Curve Finance keeps faith in ENS domains after frontend hack

Curve finance recommends ENS

Curve Finance suffered a frontend attack on Tuesday, forcing the decentralized exchange to take a closer look at the hack. The post-mortem revealed that the exploit was a ‘cache poisoning’ act specific to the domain name system (DNS). Simply put, this attack was all about compromising the DNS cache—ensuring that the web browser returns incorrect responses.

The attack led to a loss of about $570,000 in ETH. On Thursday, Curve Finance put out a tweet, suggesting users move to Ethereum Name Service (ENS) domains instead of sticking with DNS. Curve also referred to ENS as DNS’s crypto equivalent.

On the other hand, the popularity of ENS domains has been growing steadily as the merge approaches. In July alone, nearly 1.8 million ENS (.eth) domains were bought. ENS.eth (the official ENS page) reported the following stats for July:

  1. 378K new registrations
  2.  5,400 ETH in terms of revenue
  3. 48K new .eth accounts (excluding renewals)

With Curve batting for ENS domains as a safeguard against front-end hacks, we can expect .eth to soar even higher. Tried and tested over time, this domain-specific service relevant to the Ethereum ecosystem is far more resilient to front-end attacks such as the one experienced by Curve Finance.

FAQs

Has Curve Finance ever been hacked?

There had been incidents related to vulnerabilities and hacks in the decentralized finance (DeFi) space, and Curve Finance, being a DeFi protocol, was not immune to such risks. However, I don’t have real-time information, and the status of Curve Finance could have changed since then.

Why does the ENS domain matter?

The Ethereum Name Service (ENS) is a decentralized domain name system built on the Ethereum blockchain. ENS allows users to replace complex and hard-to-remember Ethereum addresses with human-readable names, making interactions with blockchain addresses more user-friendly.

What is the highest-paid ENS domain?

We don’t have specific information on the absolute highest-paid ENS (Ethereum Name Service) domain. The value of ENS domains can vary, and it depends on factors such as the uniqueness of the domain name, its perceived value, and the demand from potential buyers.

What is the most expensive domain on ENS?

ENS domains are bought, sold, and traded on various marketplaces, and the value of a domain is often influenced by factors such as the length and uniqueness of the domain name, its perceived brand value, and overall market trends. Highly sought-after or premium domain names may command higher prices.

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