Frax’s founder Sam Kazemian says that the use of Frax Finance websites is safe and is investigating what the domain name registrar incident was.

In the early hours of Wednesday, a malicious actor hijacked the domain name of the decentralized cross-chain protocol Frax Finance. However, the project team regained control of it with the assistance of the domain name registrar.

“Name.com contacted us and confirmed that the domain names are now directed to the correct DNS under our control. They told us that they will inform us about what caused the incident after conducting a full review after tomorrow.”

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A Domain Name System (DNS) hijacking occurs when the domain name registrar directs users to a malicious site that looks exactly the same as the fake one to give their identity information.

Such attacks are increasingly becoming common in the crypto field. In 2022, the decentralized finance (DeFi) project Convex Finance had to establish new website addresses after an attacker hijacked the original URLs and directed users to malicious sites. So far, the attacker has not stolen any user funds. Kazemian had previously stated that his team was unaware of the incident and that it did not appear to involve a compromise of email or password.

“It doesn’t appear to show that we did anything wrong in any way. It’s not possible to say that it is safe unless they tell us that the account is safe.” said Kazemian.

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The post Frax Finance Announced Resolution of Domain Name Hijacking Problem appeared first on Coin Engineer.