Galxe protocol experiences DNS attack, Losses $150K

Galxe’s recent web outage and security breach raise concerns in the Web3 community, with potential links to past crypto attacks.
Galxe protocol experiences DNS attack, Losses $150K
Galxe protocol experiences DNS attack, Losses $150K

Galxe, a Web3 community platform, experienced a website outage on October 6 that lasted roughly an hour. Galxe discussed the problem on X, noting that their website fell down at 14:44 UTC.

After 40 minutes, they acknowledged that there had been a security breach impacting their Domain Name System (DNS) record. Users were advised not to access the domain until the security problem was fixed.

Galxe has not yet given assurance that it is safe to utilize their website once more as of the time of this writing. Some X users reported having trouble accessing their website when it was restored because Google had blacklisted it.

ZachXBT, a cryptocurrency investigator, expressed worry over a theft that took place on the Galxe platform. A wallet connected to the vulnerability continued to amass money even after the Galxe website was brought back up, reaching about $160,000 by 17:15 UTC, according to DeBank. ZachXBT made a suggestion that there might be a link between the person or people who used Galxe for their own gain and those who attacked the Balancer protocol on September 19th. This episode was Balancer’s second attack in less than a month.

The cybersecurity company Blockfence stated: “Their DNS records have been modified to redirect to a phishing website that drains users’ wallets.” A financial loss of $238,000 resulted from Balancer’s second attack. The Angel Drainer, a person who specializes in draining bitcoin wallets, carried out a social engineering attack on Balancer’s DNS server, according to the company’s team.

The blockchain security firm SlowMist claims that there were cues that connected the attacker to Russia.

According to a security platform Immunefi’s most recent study, losses for Web3 projects increased significantly in the third quarter of this year compared to the same quarter in 2022.

Read Also: Friend.tech Users Lose $385K in ETH in SIM-Swap Attack

According to the research, cyberattacks climbed significantly from 30% to 76% year over year. In Q3 2023, these attacks caused losses of close to $686 million. Due to the Mixin breach on September 25, the most loss occurred during this time.

More From The Kangaroo Times

Total
0
Shares
Related Posts
Total
0
Share