- November 1, 2023
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
In a swift resolution of a potentially disruptive issue, Frax Finance, the decentralized stablecoin project, has regained control over its primary domains, as reported by the company’s Founder, Sam Kazemian, on his X feed.
The initial concern was raised by Kazemian through a post on Oct. 31, urging users to refrain from using frax.finance and frax.com until the company could regain control over these domains. The issue highlighted the inherent vulnerabilities associated with domain hosting and underscored the need for high-level security measures within the crypto industry.
Frax Finance’s official X account echoed Kazemian’s concerns, pleading for assistance from anyone with high-level contacts at Name.com, the domain hosting company.
Within 6 hours of reporting the issue, Frax posted an assurance that both domains were now correctly routed back to their appropriate nameservers and configurations. The post also mentioned that Name.com reached out to Frax and promised a full investigation into what led to the incident. The post, published just before 6 am GMT on Nov. 1, read,
“Name.com has reached out & confirmed frax.finance & frax.com domains are now routed back to their proper nameservers & configuration. We’ve been told they’ll explain what led to the incident after they conduct a full investigation tomorrow.”
As of now, the cause of the misrouting remains to be determined. However, the commitment to a full investigation by Name.com promises answers for the disruption and aims to reinforce user’s trust in the robustness of the broader cryptocurrency infrastructure.
While this situation was promptly resolved, it raises broader questions about the intersection of traditional web infrastructure and decentralized technologies. As the crypto ecosystem evolves, its future will undoubtedly involve a complex interplay of centralized and decentralized elements.
The post Frax Finance regains control over domains after potential security breach, investigation underway appeared first on CryptoSlate.
