Affected by the DNS hijacking incident, COW’s front-end security weakness led to short-term market panic, with the price briefly falling below $0.20 and selling off on high volume, indicating investors’ high sensitivity to security incidents. Despite the project team’s swift repair of the domain and emergency measures, confidence remains limited in the short term. The $0.195–$0.20 range forms key support. If this area holds, a technical rebound is expected; otherwise, support below $0.19 will be tested. As there are no structural risks to the core protocol, it is recommended to focus on subsequent improvements in security transparency and community communication. The medium-term judgment based on decentralized matching still holds, and the optimal strategy remains buying on dips, selling on rallies, and dynamically managing positions.

On April 14, CoW Swap suspended the protocol due to DNS hijacking, with the core front-end redirected to a malicious site, causing the market to question the security of user assets in the short term. Upon release of this news, the COW price quickly plunged from around $0.219, accompanied by high trading volume, reflecting investors’ heightened sensitivity to front-end vulnerabilities. Panic selling further exacerbated price volatility.

CoW Swap paused its protocol after attackers hijacked its DNS, redirecting the frontend to a malicious site. Blockaid flagged the frontend as harmful, leading CoW DAO to halt the backend operations and advise users to revoke approvals to protect their assets.

CoW Swap Pauses Protocol After DNS Hijacking Redirects Frontend to Malicious Site

Blockaid flagged a front-end attack on CoW Swap, leading to warnings advising users to avoid cow.fi and revoke approvals while the decentralized exchange investigates the issue.

Blockaid flags CoW Swap site as malicious amid front end attack

DeFi platform CoW Swap has warned users to avoid its site following a security breach. The team is actively working to resolve the issue affecting the decentralized exchange aggregator.

Popular DeFi platform warns users to stay away from its site after security breach

CoW DAO announced that the COW.FI domain has been locked and is currently inaccessible. They are working with security experts to regain control but do not expect to restore service tonight. Meanwhile, a temporary new CoW Swap interface is available at swap.cow.finance. Users are urged to be cautious of phishing attempts and only trust official updates from CoW Swap's channels or Discord.

CoW Swap: New domain launched, users should beware of phishing risks

The project team successively locked and repaired the cow.fi domain, launched a temporary swap interface, and reminded users to trust only the official contract address. Although the attack and defense progress was rapid, the price did not stabilize immediately after the announcement, closing below $0.20 for two consecutive days with trading volume continuing to expand. This indicates lingering market concerns about the aftermath of the incident, and short-term confidence recovery still needs more positive developments.

CoWSwap's frontend has been restored as of April 15, with users able to operate via swap.cow.finance. The team urges users to only authorize the original GPv2VaultRelayer contract address 0xc92e8bdf79f0507f65a392b0ab4667716bfe0110. This follows a reported attack on CoWSwap's frontend, which led to a temporary trading halt to address the malfunction.

CoWSwap frontend access restored; official reminder to verify the authorized contract address

CoW Swap regained control of its cow.fi domain after an attacker used forged documents to deceive the DNS registrar and deploy a phishing site. The attack, targeting the domain registrar rather than CoW Swap’s infrastructure, involved stealing user credentials through fake wallet pop-ups. The platform is transitioning back to cow.fi, and affected users are advised to revoke authorizations and consider moving funds to new wallets.

CoW Swap Issues Statement on Attack Incident: Domain Name Socially Engineered, Control of cow.fi Domain Name Now Recovered

From the daily candlestick chart, COW has now declined to the strong support area at $0.195–$0.20, which has been tested and held multiple times since mid-March. If the $0.20 level is held, a technical rebound is expected; if breached, the price may further test support around $0.19 in the short term. In the long run, as the core protocol system has not exposed major security vulnerabilities, its mid-to-long-term value remains supported by its decentralized matching advantage.

CoW Protocol

The European Central Bank will raise interest rates in June as the Iran war drives inflation higher this year, a Bloomberg survey showed.

Important news from last night and this morning (April 16 - April 17).

Bank of Japan Governor: We need to simultaneously address rising energy prices and economic downturn risks; policy-making is very difficult at this stage.

ECB policymakers play down April rate hike chances

Declining energy prices have moved the euro-zone economy back toward the European Central Bank’s base case and may mean interest-rate increases aren’t needed, according to Governing Council member Primoz Dolenc.

Fed’s John Williams Signals Support for Holding Rates Steady Ahead of FOMC Meeting

Israeli envoy warns of reaction if threatened, straining Israel-Iran relations

Trump-Meloni rift strains US-Europe ties amid NATO withdrawal speculation

Federal Reserve Governor Milian: Currently, it seems that there may only be three rate cuts remaining for the rest of the year.

Milan: Prefers to cut interest rates 3 times this year, but possibly 4 times.

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COW price today is 0.19, with a live price change of -7.86 in the last 24 hours. Convert, buy, sell and trade COW on Bybit-eu.

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