🚨🚨 Galxe Hacked Warning

[vv181]

Well, not long ago, the Balancer domain did get attacked. Now here we are again, with another domain attack. The incident reports that the attacker successfully falsified a document concerning the domain registrar account. This shows that cryptocurrency platform hacks, besides the technical risk vector, should also calculate the risk from third parties to which they utilize their services.

It is also worth noting the Galxe team's Operational security, since how could the account owner-related documentation be perfectly falsified? Does Dynadot have weak security verification or is its near-perfect attack being executed? All in all, this suggests that cryptocurrency platforms a lucrative targets for bad actors, and that concludes any platform should take all aspects of security seriously and rigorously.

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[@sriyan]

Galxe has been hacked and scammer hacked big money and still website is nit recovered. If you have connected your wallet, instantly disconnect wallet and removed all approvals.

Galaxy introduced fund recovery plan for the affected users. If you are affected from this, you will refund 110% from the stolen funds. That means you will get additional 10% compensation. Also they will directly send USDT(Polygon network) to the wallets.

Eg : If your wallet had 1000$, you will receive 1100$.

[tvplus006]

Galaxy introduced fund recovery plan for the affected users. If you are affected from this, you will refund 110% from the stolen funds. That means you will get additional 10% compensation. Also they will directly send USDT(Polygon network) to the wallets.
Eg : If your wallet had 1000$, you will receive 1100$.

Yes, the Galxe team has made an unprecedented decision to preserve its reputation. I'll add some specifics) For those who have lost their money, need to read the official announcement from Galxe - https://help.galxe.com/en/articles/8461267-october-6th-security-incident-fund-recovery-plan There you will also find a Google table that contains a list of affected wallets.

[Xal0lex]

Surprisingly, so much time has passed, official statements and precautions from Galxe have already been released, but funds are still flowing into the hacker's wallet to this day. People who do not follow the industry are always in a special risk zone, sometimes you should read the news and use Revoke, or similar services.

The reason for the flow of funds into the hacker's wallet may be that the victims who linked their wallets did not use the "Revoke" feature to unlink the wallet to the malicious contract from the transaction they signed on the phishing site to which they and affected Galxe customers were directed. Consequently, they deposited more funds without being aware of the hacking incident that occurred, believing that their wallets and assets were still secure. Therefore, they proceeded to deposit additional assets, and scammers were able to steal them as well.

You pointed out an important thing that may save a lot of similar scam/hacking incidents in the future, which is following the industry and popular news and following up and activating notifications for the project social accounts that the person is involved with because they may publish something important, as happened to Galxe.

Despite this, the developers seem to have promised to reimburse all the lost funds. As far as I remember, they recently announced that they have completely fixed all the problems and while they were doing that, the hacker managed to steal about $200,000, which is not that much by the standards of other hacks. If you look at the various Defi or stock exchange hacks, the amount of losses there is much higher and the developers are not able to cover all the losses of users.

[yazher]

Galaxy introduced fund recovery plan for the affected users. If you are affected from this, you will refund 110% from the stolen funds. That means you will get additional 10% compensation. Also they will directly send USDT(Polygon network) to the wallets.

Eg : If your wallet had 1000$, you will receive 1100$.

This is actually good but I wonder why they are giving some more amount despite they are also victims of this event and they are really confident of giving such a big amount to each user that are victim of this hacking as if they already have the allocations of what's gonna happen. This sounds like a conspiracy theory but the way you look at it really makes it weird because that doesn't really make sense Returning what their users have lost is already enough but giving them an extra amount seems suspicious to me.

[goaldigger]

Very disheartening to see and hear these incidence of hacking which is becoming too rampant lately.
I am sure a lot of person doing airdrops must have connected their wallets to this website. And if so, they should revoke asap to keep themselves safe.

Hackers are getting wise everyday, and there's no safe project for them especially the small one and the new one.
I think I also connect my wallet there once for the airdrop but its ok since that wallet is not active anymore. If you have this better to check it and do the necessary action to be more safe.
Always remember that hackers are very active and they are not sleeping, keep your wallet secured and keep it monitored.

[Oasisman]

Luckily I haven't interacted with this using all of my wallet. This is well used platform for those who are airdrop hunters, I wonder if the hack affected those who connected their wallet in the platform

~Snipped

It was a Frontend hack that originated with some impersonation and involved some redirection of the website to a phished version and users that interacted with that phished version were the ones that got compromised.

Wow! So, that's another level of phishing attack. Not attacking the platform directly, but rerouted the users to a phishing version of the hackers website instead of being directed to the correct website using the exact correct domain. Nobody was really safe that date for the users who made an attempt to log in to their website even if it's bookmarked.
I wonder why that impersonation slipped past their security verifications, I wonder how these falsified documentations we're being made without going through from the inside of Galxe's security.

[wxa7115]

Galaxy introduced fund recovery plan for the affected users. If you are affected from this, you will refund 110% from the stolen funds. That means you will get additional 10% compensation. Also they will directly send USDT(Polygon network) to the wallets.

Eg : If your wallet had 1000$, you will receive 1100$.

This is actually good but I wonder why they are giving some more amount despite they are also victims of this event and they are really confident of giving such a big amount to each user that are victim of this hacking as if they already have the allocations of what's gonna happen. This sounds like a conspiracy theory but the way you look at it really makes it weird because that doesn't really make sense Returning what their users have lost is already enough but giving them an extra amount seems suspicious to me.

If anything this is as it should be, I do not know if you have gone through something similar, but can you imagine the mental anguish a person that had their money in that platform suffered when they found out there was a hack?

So paying a little extra to those that went through such a difficult experience seems fair to me, now most likely the reason they can do this is that compared to other hacks we have seen over the years this is a relatively small hack, but I still think this is the right move.

[Victorik]

Very disheartening to see and hear these incidence of hacking which is becoming too rampant lately.
I am sure a lot of person doing airdrops must have connected their wallets to this website. And if so, they should revoke asap to keep themselves safe.

Hackers are getting wise everyday, and there's no safe project for them especially the small one and the new one.
I think I also connect my wallet there once for the airdrop but its ok since that wallet is not active anymore. If you have this better to check it and do the necessary action to be more safe.
Always remember that hackers are very active and they are not sleeping, keep your wallet secured and keep it monitored.

Yeah. Personally, as a precaution I don't use my main wallets for airdrops. For airdrops I have separate wallets for that as I don't trust some of these sites I connect my wallets to.
Hackers are getting smarter by the day and will do anything to catch anyone off guard.

[nelson4lov]

~Snipped

It was a Frontend hack that originated with some impersonation and involved some redirection of the website to a phished version and users that interacted with that phished version were the ones that got compromised.

Wow! So, that's another level of phishing attack. Not attacking the platform directly, but rerouted the users to a phishing version of the hackers website instead of being directed to the correct website using the exact correct domain. Nobody was really safe that date for the users who made an attempt to log in to their website even if it's bookmarked.
I wonder why that impersonation slipped past their security verifications, I wonder how these falsified documentations we're being made without going through from the inside of Galxe's security.

Yes, this is a known attack vector. As a matter of fact, it happened last month to Balancer where their Frontend was hacked and users directed to a phished version. As long as the attackers can get access to the DNS, they can be able to redirect users to whatever URL they want and most users will blindly trust that they're on the right website without verifying twice.

It's similar to how users fall for phishing that has to do with a hack project's  member's account (discord or X) then users just rush to mint NFTs or connect wallets. Happens almost every day in crypto.

[Wakate]

Galaxy introduced fund recovery plan for the affected users. If you are affected from this, you will refund 110% from the stolen funds. That means you will get additional 10% compensation. Also they will directly send USDT(Polygon network) to the wallets.

Eg : If your wallet had 1000$, you will receive 1100$.

This is actually good but I wonder why they are giving some more amount despite they are also victims of this event and they are really confident of giving such a big amount to each user that are victim of this hacking as if they already have the allocations of what's gonna happen. This sounds like a conspiracy theory but the way you look at it really makes it weird because that doesn't really make sense Returning what their users have lost is already enough but giving them an extra amount seems suspicious to me.

I am not even concern whether they compensate people or not but the one thing we need to be careful about is know be smart or observant how to connect our wallet to different decentralized exchanges. There are lot of people that would have lost there funds because they never knew that things will result to this and they will not be able to have access to there funds again. I always make sure that I create a new wallet when I want to go for airdrop or to make transactions that needed me to connect my wallet to avoid anything like hack from the exchange.

[tvplus006]

This is actually good but I wonder why they are giving some more amount despite they are also victims of this event and they are really confident of giving such a big amount to each user that are victim of this hacking as if they already have the allocations of what's gonna happen. This sounds like a conspiracy theory but the way you look at it really makes it weird because that doesn't really make sense Returning what their users have lost is already enough but giving them an extra amount seems suspicious to me.

Yes, Galxe  turned out to be pioneers in this, since I do not recall such a case when, in addition to the lost money, additional funds were returned, which can be regarded as compensation for moral damage. For those who have lost their funds, this compensation is an easy way to get 10% to the deposit in 1 week, which is a good profit for the investor.

[tvplus006]

Today Galxe has fully compensated the losses incurred by the participants and plus 10% as compensation - https://polygonscan.com/tx/0xdc770a33298d1d28e7150a38cd78f6f359ee27987d2ce54af5c6fa24b019014f The payment was made in USDT on the Polygon network. In total, the total amount paid by Galxe company was $466296.74.