Galxe Distributes $466,000 in USDT to Users Affected by Cyber Attack
Galxe, the Web3 authentication network, has successfully distributed a total of $466,296.74 in USDT on the Polygon network. This distribution also includes an additional 10% of the total amount, in an effort to reassure its users and compensate for the losses incurred following a recent cyber attack.
Galxe, a platform that provides data verification services, found itself the target of a cyber attack, which prompted the organization to take swift action to ensure the security and trust of its users. The attack left a significant impact on its users, causing concerns and uncertainty within the community.
Dear Galxe Community,
We’ve successfully distributed a total of $466,296.74 in USDT on Polygon, which included an additional 10% as a gesture of our commitment to our community and good faith.
— Galxe (@Galxe) October 20, 2023
In response to the attack, Galxe issued a statement assuring its users that they would be fully compensated for any losses incurred as a result of the breach. This commitment to their users’ security and satisfaction was reinforced by the decision to distribute an additional 10% on top of the original amount lost.
The distribution of $466,296.74 in USDT on the Polygon network is a testament to Galxe’s dedication to its users and its willingness to go above and beyond to make amends. This act of goodwill is intended to not only cover the financial losses experienced by affected users but also to show the community that Galxe takes the security and well-being of its users seriously.
Galxe’s dedication to compensating its users and its commitment to security sends a strong message to the cryptocurrency community. It highlights the importance of trust and accountability within the industry, particularly when security breaches occur.
The crypto space is no stranger to cyber attacks, and the way companies like Galxe respond to such incidents is crucial in maintaining the trust of their users. The distribution of over $466,000 in USDT, along with the additional 10%, is a clear demonstration of Galxe’s commitment to its community, and it sets an example for other organizations facing similar challenges.
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