Galxe Declares 396,000 Dollars Reimbursement for Users Impacted by DNS Attack

Crypto News– Following a significant DNS attack that took place last week, the web3 credentials and rewards platform, Galxe, has moved swiftly to provide reassurance to its community. They have announced a refund of over $396,000 to more than 980 affected users, in addition to an extra 10% reimbursement on their losses.

Galxe Declares 396,000 Dollars Reimbursement for Users Impacted by DNS Attack

The attack left a multitude of users vulnerable, as hackers exploited a DNS hijack to redirect visitors from Galxe’s official website to a malicious phishing site. This security breach had a direct impact on user funds, prompting Galxe to act swiftly by devising a comprehensive recovery plan. In their statement, Galxe said, ‘To the users who were affected, we recognize the impact of this security incident and have created a comprehensive recovery plan to make you whole.’

Users who experienced losses will receive compensation in USDT on the Polygon network, valued as of October 9 at 3 a.m. PT. As a goodwill gesture, Galxe has also committed to supplementing the initial loss amount with an additional 10% from the project’s treasury.

It’s important to note that during the attack, only users who authenticated transactions on the phishing site were affected, while other aspects of the platform remained uncompromised, as clarified by the Galxe team.