๐News Flash๐ Frax Finance's X account was hacked! ๐ฑ But hold up, it's not as bad as it sounds. Founder Sam Kazemian believes it's an inside job at X, not a security flaw with Frax.๐ต๏ธโโ๏ธ
โข The breach happened on June 1, leaving the decentralized stablecoin protocol FRAX USD in a pickle.
โข Kazemian is pretty sure they've found the culprit, a "serial scammer" known to blockchain investigator ZachXBT.
โข No passwords were changed, no phishing attacks on Frax. Kazemian points to potential social engineering and insider involvement at X.
The X account is still active, but no new posts since the hack. X and its CEO, Elon Musk, are yet to comment. ๐ค
This isn't the first time X's been linked to crypto project hacks. In May, a trader called GCR reported a similar breach, blaming insider bribes at X.
What do you think? Is X the home for crypto it claims to be? Let's chat in the comments! ๐ #FraxFinance #CryptoNews #XHacks