The founder of Frax Finance, Sam Kazemyan, announced the compromise of the DeFi project account on the social network X and asked for help to contact the support service.
If anyone has a direct line to X account/customer service please DM me, @fraxfinance X account is compromised and appears to be inside job or social engineering within X since no password reset or other issues within Frax itself. Please stay safe and don't click any X links!
— Sam Kazemian (¤, ¤) (@samkazemian) May 31, 2024"The Frax Finance account in X is compromised and it seems to be related to the work of an insider or social engineering inside X, as we do not have a password reset or other problems," the entrepreneur wrote.
He urged users not to click on any links in the account.
At the time of writing, the latest posts in the project's feed with almost 92,000 followers are dated May 30, Kazemyan has not published any updates.
At the end of May, the accounts of a number of influencers and celebrities were hacked to promote fraud and manipulation of the crypto market.
In March, the X-pages of several influential industry figures were compromised to advertise the PACKY scam token. The hacker allegedly gained access through the automatic posting service IFTTT (If This then That).
Recall that in February, the Frax Finance team launched its own second-tier Fraxtal network based on Ethereum.
In a roadmap called Singularity, the project stated the goal of achieving the value of blocked assets in the protocol of $100 billion by 2026.