Security Breach at Galxe, a Web3 Platform, Causes Loss of Funds and Wallet Access

Security Breach at Galxe, a Web3 Platform, Causes Loss of Funds and Wallet Access

Crypto News – Galxe, a prominent web3 community-building platform, has recently fallen victim to a significant security breach. Numerous users have reported an inability to access their funds and wallets on the platform, compounded by the Galxe website being inaccessible.

The platform administration promptly issued warnings, urging users to disconnect their wallets from the platform and refrain from confirming any transactions. As per the latest updates, the breach stemmed from a DNS account compromise executed through the platform’s domain nameservers hosted on Dynadot, a domain marketplace.

In an urgent advisory, affected users have been encouraged to transfer their funds from their Galxe accounts to an alternative secure wallet. Additionally, the users impacted by this breach are strongly advised to reach out to the support team via the official Discord channel.

The year 2023 has witnessed an alarming surge in crypto scams and hacking activities. Recent reports indicate that the crypto industry suffered a staggering loss of over $889 million in the third quarter of this year alone due to various scams and security breaches. Regrettably, Galxe seems to have become another victim in this relentless wave of crypto hacks.