A recent domain attack has hit Galxe, a web3 platform, resulting in the loss of approximately $200,000. Galxe utilizes the domain registrar Dynadot, which was compromised in the security breach. In response to the incident, Galxe regained control of the domain ownership and implemented security measures. The project assures users that their funds and information are still secure as long as no transactions were approved on connected wallets after 6 am PST on Friday. The website remains inaccessible at the time of writing, and Galxe plans to release a full incident report and fund recovery plan soon.
The native token of the project, GAL, has experienced a decline of nearly 2.5% in the past 24 hours. Currently ranked 377th by market cap, GAL is trading at $1.16. It is important for users to exercise caution and avoid making high-risk investments without conducting thorough due diligence in the cryptocurrency and digital asset space. The Daily Hodl, an online platform, highlights the importance of individuals taking responsibility for their transfers and trades as they involve inherent risks.
As investigations continue and further information becomes available, Galxe has engaged with law enforcement authorities to address the situation. The project aims to provide more accurate details about the incident and reassure its users regarding their funds and personal information. This domain attack serves as a reminder of the persistence of cyber threats and the need for robust security measures in the web3 space.