June 17, 2024

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Yearn Finance (YFI) Website Hit by Domain Registrar Issue

2 min read

DeFi protocol Yearn Finance has informed users to access the protocol through yearn.fi URL for the meantime.

The update comes after its Yearn.finance URL suddenly went offline. BeInCrypto’s attempt to reach the website displayed the message “yearn.finance unexpectedly closed the connection” on the browser.

Domain Registrar Issue

Earlier today, a member of the team posted:

“The yearn team is aware that yearn fi and yearn finance domains are currently not working. Until we know more please refrain of taking any actions on these websites.”

According to the team, this is due to a domain registrar issue, and it is working to resolve the issue. On the other hand, the yearn.fi website was working perfectly as of press time.

Although Yearn Finance did not provide more information on the issue, domain registrars have recently become targets for hackers. Earlier this year, domain registrar Namecheap had its email account compromised.

This allowed the hackers to send phishing emails posing as MetaMask and DHL. At the time, MetaMask warned users about the incident. Given that Yearn has not issued such a warning, the issue might not be a compromise of a domain registrar. One user joked that the team probably forgot to renew their domain name.

Yearn Finance YFI price
Yearn Finance YFI Price. Source: BeInCrypto

Meanwhile, the incident has not had any major impact on the Yearn Finance YFI token. The token is down 3.4% in the last seven days, along with the rest of the market, and it is 94% below its all-time high. Additionally, the total value of assets locked on the protocol remains unchanged at $364.27 million as of press time, according to DeFillama data.

Despite being significantly down from its ATH, YFI holders recently rejected a deal to loan market maker Wintermute $2 million worth of tokens for 12 months. They voted against the deal because of its unfavorable terms, which include the meager interest rate of 0.10%.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.


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