Galxe Hack Resulted in the Theft of $270K in Funds

Crypto News – After a serious security breach, Galxe has formally declared that its website is completely recovered and running.

Galxe Hack Resulted in the Theft of $270K in Funds

In what is now known as the Galxe hack, the incident, which happened on October 6, resulted in an unauthorized access attack that affected about 1,120 people and caused the theft of almost $270,000.

Galxe provided a thorough summary of the breach, revealing that a stranger approached domain service provider Dynadot while posing as an authorized user of the platform. The impersonator succeeded in evading security measures and gaining access to domain accounts by using false documents. Due to their control over these accounts, the criminal parties were able to lure unwary consumers to fake websites and start transactions that resulted in the theft of the funds.

Galxe Takes Action to Recover the Losses of its Users

Galxe assured its users that all technical systems and smart contracts were secure and unharmed throughout the incident, despite the hack. Now, helping the impacted users and getting back the stolen money are the main priorities.

To achieve this, Galxe is actively working with law enforcement authorities and outside experts to develop a thorough fund recovery plan for those who were affected by the Galxe hack. The intention is to make sure that individuals who committed the breach are held accountable and that users who were attacked get compensated for their losses.