Galxe Protocol Under DNS Attack, Losses Reaching $150,000 So Far Cryptocurrency scrgruppen

The Web3 Galxe community platform’s website was offline for about an hour on October 6. Galxe reported on X (Twitter) that its website was down at 14:44 UTC and 40 minutes later posted an update confirming that it had suffered a security breach. Which affects the company’s Domain Name System (DNS) record. He warned against visiting his domain until the situation is addressed.

Galxe has not confirmed that its website is safe to use again at the time of writing. After the website was restored, some X posters reported that it had been blocked by Google.

One stop cybersecurity service Web3 to explain:

“Their DNS records were modified to redirect to a phishing website that drains users’ wallets.”

Cryptocurrency investigator ZachXBT reported funds stolen from Galxe. The wallet linked to the exploit by ZachXBT continued to raise funds after the Galxe website came back online, and was worth around $160,000 at 17:15 UTC.

ZachXBT suggested a link between the Galxe exploit and the party that attacked the Balancer protocol on September 19. This was the second attack on Balancer within a month.

The second attack on Balancer resulted in losses of $238,000. The Balancer team described the incident as a social engineering attack on its DNS server that was carried out by a cryptocurrency wallet drainer called Angel Drainer. Blockchain security firm SlowMist indicated that the attacker was linked to Russia.

Losses on Web3 projects increased significantly in the third quarter of this year, compared to the third quarter of 2022, according to a recent report from security platform Immunefi. Attacks rose from 30% to 76% year-on-year, and losses reached nearly $686 million in the third quarter of 2023. The largest loss in that period was from the Mixin hack on September 25.

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