Frax Finance X account hacked, CEO suspects ‘inside job’ at Elon Musk’s office
Frax Finance X account is compromised and appears to be inside job or social engineering within X since no password reset or other issues within Frax itself
A hacker allegedly gained control of crypto lending platform Frax Finance's X social media account without accessing or tampering with existing passwords. But how?
Frax Finance's X account was hacked on June 1. In a desperate attempt to regain control, Frax Finance CEO Sam Kazemian appealed to his followers on X for assistance in contacting X customer service.
Users reported that X takes roughly 72 hours to address complaints related to compromised accounts. The process involves raising a support request with a linked email address and going through a back-and-forth that involves submitting additional information as directed.
Passwords were not tampered with
While Elon Musk's X suggests changing passwords during account compromises, Kazemian alleged that the passwords were not tampered with and asserted that no issues within Frax Finance could have contributed to the breach. Instead, he suspected the involvement of an insider working at X. He said:
"Frax Finance X account is compromised and appears to be inside job or social engineering within X since no password reset or other issues within Frax itself."
More than 48 hours after the hack, neither Frax Finance, Kazemian or X representatives have provided any updates regarding the account's recovery. Consequently, the CEO's recommendation to avoid all website links shared from the compromised X accounts remains in effect at the time of writing.
Responses to Kazemian's call for help suggest that Frax Finance managed to get a "direct line" to X's customer support team.
