A hacker hit web3 platform Galxe (GAL) with a domain attack on Friday morning and appears to have made off with around $200,000.
Galxe, a web3 credential data network, uses the domain registrar Dynadot.
The project noticed a security breach affecting its domain name system (DNS) record for galxe.com early Friday morning.
“Regrettably, unauthorized individuals temporarily took control of the Dynadot account. We took back the domain ownership at 9 am PST, October 6th, and ensured the security protection of the account with Dynadot.
Preliminary assessments suggest that potentially compromised funds amount to around or less than $200,000.
We are committed to providing more accurate information as we delve deeper into our investigation. In our efforts to address this situation, we have engaged with the appropriate law enforcement authorities.”
The project notes that users’ funds and info are all still secure as long as they didn’t approve any transaction of the connected wallets on Galxe after 6 am PST on Friday. Its website is still down as of the time of writing.
Galxe also says it plans to share the full incident report and fund recovery plan “soon.”
The project’s native token, GAL, is down nearly 2.5% in the past 24 hours. The 377th-ranked crypto asset by market cap is trading at $1.16 at time of writing.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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