According to Odaily Planet Daily, on June 1, Frax Finance's X account was hacked. In order to regain control, Frax Finance CEO Sam Kazemian called on his fans to help contact X customer service. Users reported that it took X about 72 hours to handle complaints related to stolen accounts. Although X staff recommended changing passwords during the account leak, Kazemian insisted that the password had not been tampered with and said that any problems within Frax Finance could not have caused the leak. Instead, he suspected that X's insiders were involved in the matter: "The Frax Finance X account was hacked, which seems to be an X internal work or social engineering incident, because Frax itself did not reset passwords or other problems."

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