Galxe issues $396,000 reimbursement to impacted users after DNS breach

In Response to DNS Attack, Galxe Offers Refunds and Compensation to Affected Users

After experiencing a significant DNS attack, Galxe, the web3 credentials and rewards platform, has taken steps to reassure its community. The company announced that it will refund over $396,000 to more than 980 users who were impacted by the attack. Additionally, Galxe will provide an extra 10% on the lost funds as a gesture of goodwill.

DNS Hijack Leads to Compromised User Funds

The DNS attack exploited by hackers involved redirecting visitors to Galxe’s official website to a malicious phishing site. This resulted in compromised user funds. To address this issue, Galxe promptly devised a comprehensive recovery plan to restore affected users’ funds. The company acknowledged the impact of the security incident and expressed its commitment to making affected users whole again.

Compensation in USDT on Polygon Network

Users who suffered losses will be compensated in USDT on the Polygon network, with the valuation based on October 9 at 3 a.m. PT. Furthermore, Galxe pledged to add an additional 10% from the project treasury to the initial loss amount as a token of goodwill.

Clarification on Affected Users and Support

The attack only affected users who authenticated transactions on the phishing site, while other aspects of the Galxe platform remained uncompromised. However, Galxe encourages users who believe they were affected but are not listed or notice discrepancies in their loss valuation to contact the platform’s support team. Users should provide relevant evidence for rectification.

Hot Take: Galxe Takes Swift Action to Restore Trust

Galxe’s response to the DNS attack demonstrates its commitment to its community and its determination to restore trust. By offering refunds and additional compensation, Galxe acknowledges the impact of the security incident and takes responsibility for making affected users whole. This swift and comprehensive recovery plan highlights Galxe’s dedication to maintaining a secure platform for its users.