Frax Finance's front-end website hacked, users advised not to use it temporarily

The stablecoin protocol Frax issued a notice this morning, reminding users not to use the front-end interface temporarily until further notice, as the website appears to have been hacked and control has been lost.

Frax Finance Suspected Hack

According to a tweet from Sam Kazemian, the founder of Frax Finance, and an official announcement, users are advised not to use the frontend service temporarily until the team provides further updates.

Furthermore, it was mentioned that if any community members know senior staff at the U.S. domain registrar Name.com or are employed there, they are encouraged to contact the team promptly. Name's team has already indicated that they are addressing the issue.

If anyone has any contacts high up at @namedotcom please DM.

In the meantime don't use https://t.co/CrfTP0AfMo until we can get back the domain.

— Sam Kazemian (¤, ¤) (@samkazemian) October 31, 2023

Community members speculate that this action may indicate a hack on the Frax frontend page. Currently, there is no further official information or clarification regarding the security of the protocol's funds, and the situation will continue to be monitored.

Latest Update: The official announcement has confirmed that the issue has been resolved, awaiting clarification on the cause.

Recent DeFi frontend attacks have been ongoing, including Balancer experiencing a similar frontend interface breach in September.

FRAX Market Response

This announcement was made at 7:30 AM today, and as of the deadline, the coin price has not fluctuated significantly, with FRAX currently priced at $3.79.