According to CoinDesk, decentralized cross-chain protocol Frax Finance's domain was hijacked early Wednesday, but the team behind the project has regained control with assistance from their domain registrar. Name.com contacted the Frax team and confirmed that the domains are now routed back to their proper DNS under their control. The registrar will conduct a full investigation to determine the cause of the incident.
Domain Name System (DNS) hijacking is an increasingly common attack in the crypto industry, where the domain name registrar redirects users to a malicious site that looks identical to the authentic one to phish users into giving up their credentials. In 2022, the decentralized finance (DeFi) project Convex Finance had to set up new website addresses after its original URLs were taken over and misdirected users to malicious sites. No user funds have been stolen by the attacker in the Frax Finance incident.
Frax Finance's team is unsure about what happened, and it doesnât seem to be a compromised email or password. Name.com has not responded to a request for comment from CoinDesk but informed the Frax team that they will be conducting a full investigation into the incident.
