On November 1st, the official website of Frax Finance fell victim to DNS record attacks. This information was confirmed by the project’s founder, Sam Kazemian, as well as the official X account of the project.
In a tweet, the project advised users against using Frax Finance products at the current time. Simultaneously, the founder attempted to contact the domain service provider Name dot com.
Preliminary information suggests that the project’s domain may have been compromised, indicating a DNS impersonation attack. Currently, the project has not provided detailed updates on the incident or the extent of the damage, only urging users to refrain from using the product until further notice.
Following the hack, Frax Finance’s native token FXS fell approximately 5%. With this decrease, FXS fell to $ 5.67 and is traded at $ 5.72 at the time of writing.
DNS impersonation attacks are not new to the DeFi market. Past victims of this type of attack include names like Balancer, Curve Finance, Ankr, and Celer Network.