Decentralized Finance Protocol Frax Finance Incident Continued

Following the breach in the X account of the decentralized finance protocol Frax Finance, the founder and team members express their determination to bring the responsible party to justice. The incident, deemed an 'inside job' by the founder Sam Kazemian, sheds light on the vulnerabilities within the project's system.

The team believes that a 'serial scammer', known to blockchain sleuth ZachXBT, is behind the breach. However, Kazemian clarifies that the breach was not a result of a security flaw or phishing attack but rather an internal issue.

The lack of response from X and its CEO Elon Musk adds to the mystery surrounding the breach. The involvement of insider actions in various crypto projects, including the recent incident at Frax Finance, raises concerns regarding the industry's security measures.

In another episode involving bribery and a pump-and-dump scheme reported by a crypto trader, the connection to developers of a Solana-based memecoin hints at a broader pattern of malicious activities within the crypto sphere.

The breach at Frax Finance emphasizes the need for heightened security protocols and vigilance against internal threats in the fast-evolving landscape of decentralized finance.