The domain of the decentralised cross-chain protocol Frax Finance was taken over early on Wednesday, but the project team was able to regain control of it with assistance from their domain registrar.
“Name.com has contacted us to verify that the domains are currently being redirected to their correct DNS under our management. After conducting a thorough investigation tomorrow, they will reportedly inform us of the incident’s cause, the project said on X.
DNS hijacking is the practise of a domain name registrar sending users to a malicious website that imitates the real one in an attempt to trick them into divulging their login credentials.
In crypto, attacks of this kind are becoming more frequent. Convex Finance, a decentralised finance (DeFi) project, had to change the URLs of its original webpages in 2022 due to malicious websites spoofing them. The attacker has not yet taken any user funds.
Prior to this, Kazemian stated that neither his team nor the incident appears to have been caused by a compromised email address or password.
“It doesn’t seem like we did anything wrong at all. So until they tell us the account is secure, it’s not possible for us to say it’s safe,” Kazemian said.