The Galxe platform has fallen victim to a DNS attack. In light of this sad news, it’s clear that attempted intrusions and scams are on the increase, especially in the Web3 project sector. Companies therefore need to be proactive when it comes to cybersecurity.
The problem: a DNS attack on the Galxe platform
The Galxe platform recently suffered a DNS attack. This resulted in the detour of its website to a phishing site that was taking money from users. This information comes from cybersecurity service Web3 and cryptocurrency detective ZachXBT. DNS (Domain Name System) are essential for ensuring the correct connection between domain names and IP addresses on the Internet. The fact that hackers have managed to modify this information is therefore extremely worrying.
The consequences: major losses for Galxe users
- Funds stolen: According to reports, the total amount stolen was around $160,000 at the time of DeBank’s analysis. This amount could increase if users continue to fall for the phishing scam.
- Self-revocation of the malicious contract: Cryptocurrency experts have also asked affected networks to revoke the smart contract used by the hackers. This measure would limit the damage to victims.
- Efforts to recover domains and strengthen security: Galxe announced that it had regained possession of its domain on October 6. Following this, the platform enhanced security protection with the Dynadot? domain registration service.
Recommendations for Galxe users
Galxe has published a message on the steps to be taken for affected users. These steps include:
- Check your account balances and report any suspicious activity.
- Change your passwords and other credentials to strengthen the security of your account.
- Stay tuned for updates from the Galxe team on how to resolve the problem and what to do next.
Increased losses on Web3 projects
This incident comes at a time when losses due to cyber-attacks on Web3 projects have increased significantly. The security platform Immunefi has reported on this, particularly over the last three quarters. This trend shows that cybercrime in the cryptocurrency sector is evolving rapidly. It is vital that companies take preventive measures to protect their customers and assets.
Conclusion
This DNS attack on the Galxe platform underlines the need for heightened vigilance in cybersecurity, particularly with the rise of Web3 projects. Companies need to protect themselves against existing threats. They must also anticipate and prepare for the new forms of attack that are emerging with technological advances.
