Hacker Targets Galxe Web3 Platform in Domain Attack, Stealing $200,000
A hacker launched a domain attack on Galxe (GAL), a web3 credential data network, resulting in the theft of approximately $200,000. Galxe uses the domain registrar Dynadot.
Galxe discovered the security breach on Friday morning, which affected its domain name system (DNS) record for galxe.com. The project regained control of the domain ownership at 9 am PST and implemented security measures with Dynadot. Preliminary assessments estimate that compromised funds amount to around or less than $200,000.
User funds and information remain secure as long as no transactions were approved from connected wallets after 6 am PST on Friday. The project plans to release a full incident report and fund recovery plan soon. The native token of Galxe, GAL, has decreased by nearly 2.5% in the past 24 hours and is currently trading at $1.16.
Hot Take: Hacker Breaches Galxe Web3 Platform, Stealing Funds
A hacker successfully executed a domain attack on the web3 platform Galxe, resulting in the theft of approximately $200,000. The project detected a security breach affecting its DNS record and took immediate action to regain control of its domain ownership and secure user funds and information. Although the website is currently down, users are assured that their assets are safe if no transactions were approved after the specified time. Galxe plans to provide a comprehensive incident report and recovery plan in the near future. This incident serves as a reminder for crypto platforms to prioritize security measures to protect user assets from malicious attacks.
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