We report High Energy Transient Explorer 2 (HETE-2) Wide Field X-ray Monitor/French Gamma Telescope observations of XRF030723 along with observations of the XRF afterglow made using the 6.5m Magellan Clay telescope and the Chandra X-ray Observatory. The observed peak energy E_pk_obs of the nu F_nu burst spectrum is found to lie within (or below) the WXM 2-25 keV passband at 98.5% confidence, and no counts are detected above 30 keV. Our best fit value is E_pk_obs=8.4+3.5/-3.4 keV. The ratio of X-ray to Gamma-ray flux for the burst follows a correlation found for GRBs observed with HETE-2, and the duration of the burst is similar to that typical of long-duration GRBs. If we require that the burst isotropic equivalent energy E_iso and E_pk_rest satisfy the relation discovered by Amati et al. (2002), a redshift of z=0.38+0.36/-0.18 can be determined, in agreement with constraints determined from optical observations. We are able to fit the X-ray afterglow spectrum and to measure its temporal fade. Although the best-fit fade is shallower than the concurrent fade in the optical, the spectral similarity between the two bands indicates that the X-ray fade may actually trace the optical fade. If this is the case, the late time rebrightening observed in the optical cannot be due to a supernova bump. We interpret the prompt and afterglow X-ray emission as arising from a jetted GRB observed off-axis and possibly viewed through a complex circumburst medium due to a progenitor wind.
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