Frax Finance Founder Claims Inside Job at X Resulted in Account Hack

Sam Kazemian, founder of Frax Finance, has alleged that an inside job at X was responsible for the hack of the project’s official account.

“We will try our best to bring that person to justice,” Kazemian asserted. He clarified that the breach was not due to any security flaws or phishing attacks targeting the Frax Finance team. “This was an inside job,” he emphasized. As of now, the X account of Frax Finance remains active, but no new posts have been visible since the hack. To date, neither X nor its CEO, Elon Musk, has made any official comments addressing the breach.on the situation, emphasizing the need for improved cryptographic authentication features on X to maintain its status as a “home for crypto.”This incident with Frax Finance is the latest in a series of hacks targeting crypto projects, which have allegedly been attributed to insider actions at X.

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