The decentralized exchange aggregator CoW Swap has alerted users to stay off its platform after a significant frontend exploit. The DAO behind CoW Swap reported a DNS hijacking of its website, swap.cow.fi, leading to the immediate suspension of its backend systems and APIs. Development teams are actively working to rectify the situation and will confirm when the platform is secure for use.
This type of DNS attack is a known risk in the cryptocurrency space, with other decentralized exchanges like Balancer and Curve Finance having experienced similar incidents. The price of CoW Protocol's native COW token saw a minor decline of over 3% following the announcement of the hijacking.
Recent reports indicate that Web3 projects collectively lost approximately $482 million in the first quarter of 2026 due to various hacks and scams, with phishing and social engineering attacks being the primary drivers.