Galxe, the world’s foremost Web3 data network, known for its contributions to aiding developers and projects in building communities, has fallen victim to a hacking incident. As a result, the Galxe website is currently offline, leaving the team at Galxe working diligently to rectify the situation. This security breach has sent shockwaves throughout the cryptocurrency community, given Galxe’s prominent position in the Web3 space.
The incident comes just a year after Galxe made headlines by securing an impressive $10 million in funding through a round backed by major players in the crypto world, including Multicoin Capital, Dragonfly, and Binance Labs. However, this hacking incident has had an immediate and notable impact on Galxe’s native token, GAL, with its price plummeting by 3%. At present, the token is valued at $1.16, with a market capitalization of $54.2 million.
🚨 Attention Community! At the moment, the Galxe website is down and we’re working on repairing the issue. Please do not connect your wallet to Galxe for the timebeing.
The issue will be resolved shortly, thank you for your patience!
— Galxe (@Galxe) October 6, 2023
One of the key metrics that has garnered attention in recent days is the number of unique active wallets on the Galxe platform over the last month. With a staggering 935,000 active wallets, it’s clear that Galxe had been rapidly gaining traction in the Web3 space. Additionally, the total number of transactions conducted on the platform in the last 30 days has reached a remarkable 3.19 million, underlining the platform’s significance in the crypto ecosystem.
Galxe took to social media platforms to address the issue promptly, assuring its community that they are actively working on resolving the security breach. A tweet from their official account read, “Attention Community! At the moment, the Galxe website is down, and we’re working on repairing the issue. Please do not connect your wallet to Galxe for the time being. The issue will be resolved shortly, thank you for your patience!”
Despite the unsettling circumstances, Galxe’s commitment to their community and their determination to rectify the situation was evident. They advised users not to connect their wallets or engage in any transactions until further notice.
The incident has also attracted the attention of the broader crypto community, with some users raising concerns about stolen funds being redirected to a particular Ethereum wallet address, 0x4103baBcFA68E97b4a29fa0b3C94D66afCF6163d. In a tweet, a user pointed out that the same scammer might be responsible for this attack as well as a recent attack on the Balance frontend.
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