Galxe’s Post-DNS Attack Response: $396,000 Refund and 10% Extra to 980 Affected Users
In the wake of a significant DNS attack that transpired just last week, Galxe, a prominent web3 credentials and rewards platform, has taken immediate action to reassure its community. The company has announced a substantial refund of over $396,000 to more than 980 affected users, along with an additional 10% on the lost funds. The move comes after a sophisticated cyberattack that left users exposed, shaking the platform’s trust.
The attack that unfolded last week was a DNS hijack, where cybercriminals exploited vulnerabilities to redirect visitors from Galxe’s official website to a malevolent phishing site. This malicious redirection not only compromised user data but also led to the loss of user funds. Galxe responded swiftly to this security breach, implementing a comprehensive recovery plan aimed at rectifying the situation.
In an official statement, Galxe expressed its understanding of the gravity of the incident and its commitment to addressing the concerns of affected users. “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,” Galxe stated. This acknowledgment of the incident’s significance demonstrates the platform’s dedication to restoring trust and providing a sense of security for its users.
We have crafted a thorough recovery plan to make you whole for the incident.
In addition to recovering the full amount, we’re including an extra 10% as a commitment of goodwill and faith.
Read more: https://t.co/y3H79ZrsG3 pic.twitter.com/2W1Z5Esn8F
— Galxe (@Galxe) October 10, 2023
One of the most significant components of the recovery plan is the promise of compensation to users who suffered losses. This compensation will be provided in USDT, a stablecoin on the Polygon network, with the value determined as of October 9, 3 a.m. PT. The choice of using a stablecoin on the Polygon network ensures quick and secure transactions for affected users, minimizing any further potential risks. This is a crucial step in mitigating the damage caused by the DNS attack.
Furthermore, Galxe has gone above and beyond by committing to adding an extra 10% to the initial loss amount from its project treasury. This gesture of goodwill showcases the platform’s dedication to not only resolving the current issues but also to safeguarding against future threats. This additional compensation is a testament to Galxe’s commitment to its user community and its determination to uphold security and integrity.
In conclusion, the recent DNS attack on Galxe was undoubtedly a significant setback, but the platform’s response has been both prompt and reassuring. By initiating a comprehensive recovery plan, compensating affected users with USDT on the Polygon network, and adding an extra 10% from the project treasury, Galxe is taking vital steps to mend the damage and restore confidence in its platform.
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