Is Frax USD a scam?
Asked about Frax USD (FRXUSD), market cap rank #265.
Short answer
Frax USD (FRXUSD) has been scored on isthiscoinascam.com and has a moderate score — some risk signals were raised but no critical concerns.
Source: isthiscoinascam.com · Updated 2026-09-16
Positive signals
- frxUSD is described by Frax documentation as fully backed by bankruptcy-remote, tokenized U.S. Treasury funds. ([docs.frax.com](https://docs.frax.com/frxusd))
- Frax documentation provides a cross-chain contract addresses list for frxUSD across many networks, indicating a defined on-chain deployment surface. ([docs.frax.com](https://docs.frax.com/frxusd/frxusd-contracts))
- PRNewswire describes frxUSD as launched on Jan 2, 2025, backed by BlackRock's BUIDL tokenized by Securitize. ([prnewswire.com](https://www.prnewswire.com/news-releases/frax-launches-frxusd-stablecoin-backed-by-the-blackrocks-usd-institutional-digital-liquidity-fund-buidl-tokenized-by-securitize-302341497.html))
Security audits
2 audits on record.
- Certik (2020-11) — unknown
- Trail of Bits (2025-03) — unknown
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