Frax Finance Faces DNS Domain Takeover by Hackers

Published: October 31, 2023 at 11:55 pm Updated: October 31, 2023 at 11:56 pm

Edited and fact-checked:
October 31, 2023 at 11:55 pm

In Brief

Hackers took over Frax Finance’s domain, marking the third such recent incident. Users are advised to avoid the site until resolved.

In yet another unsettling cybersecurity breach, Frax Finance recently discovered that hackers had taken over their DNS domain name. Highlighting a rising trend, this incident marks the third of its kind where a domain name has been commandeered through social engineering techniques.

Through an urgent tweet, Frax alerted users to avoid the compromised domains, specifically frax.finance and frax.com. The company’s tweet read, “Please don’t use http://frax.finance and http://frax.com domains until further notice. If you know anyone at @namedotcom please reach out asap.”

Please don’t use https://t.co/cADe5RLjqv and https://t.co/AcTF8hlzaS domains until further notice.

If you know anyone at @namedotcom please reach out asap. https://t.co/v0KlM5FoLk

— Frax Finance (¤, ¤) 🦇🔊 (@fraxfinance) October 31, 2023

The founder of Frax Finance, Sam Kazemian, echoed this sentiment, emphasizing the importance of user safety and the risks associated with accessing the mentioned domains.

Frax Finance Domain Takeovers

Social engineering attacks have become increasingly sophisticated, targeting the human element of cybersecurity. By manipulating individuals into breaking security protocols, hackers can gain unauthorized access, as seen in the Frax incident. The recurring pattern of such domain takeovers accentuates the urgent need for improved digital security measures and heightened user awareness.

We urge companies and individuals to stay vigilant, update their security protocols regularly, and learn the telltale signs of phishing and other social engineering tactics.

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Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master’s degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

Nik Asti