Frax Finance's X Social Account Breached Despite Unchanged Passwords
Summary:
Frax Finance's X social media account was reportedly breached on June 1, despite no changes in passwords. CEO Sam Kazemian suspected an inside job at X since no password reset or company issues were identified. Since the breach, users have been advised to ignore all shared links from the hacked X account. Similar account hacks have also been experienced by prominent traders, rappers, and celebrities recently, with accounts being used to promote various cryptocurrencies.
Crypto lending platform Frax Finance's X social account was reportedly hacked on June 1, despite no changes or inconsistencies with the existing passwords. In an effort to recover the account, Frax Finance's CEO Sam Kazemian reached out to his X followers, seeking help to get in touch with X's customer service. Users noted that resolution for compromised accounts generally takes the X team around 72 hours, a process that includes additional correspondence and delivering further required information after contacting them via a connected email ID.
In such account breaching situations, Elon Musk's advice on X has always been to alter passwords. However, Kazemian alleged that their passwords had not been played around with, leading him to suspect foul play from an inside source at X. He stated that there was no password reset involved, nor were there issues on Frax's end that could've led to the breach.
Even though over two days have passed since the invasion, neither Frax Finance nor X support has given any further updates regarding the recovery of the hacked account. Thus, Kazemian's request to users to ignore all links shared from the comprised X account is still in place.
Following Kazemian's plea for aid, it seems like Frax Finance was able to establish direct contact with X's support staff.
Hacking of X Social accounts does not limit to crypto protocols. Popular traders, rappers, and eminent personalities have recently found themselves in the same predicament as Frax Finance. The hackers of their X accounts used them to promote different cryptocurrencies, including Luna2, ORDI, and celeb-inspired memecoins.
The crypto community voiced disappointment over the hacker's unambitious nature with comments like – "Bro could've picked ANY believable micro cap to pump 10-20x, yet chose to shill ORDI and LUNA2 for a mere 10% wick," by crypto analyst Miles Deutscher.
Published At
6/3/2024 10:26:49 AM
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