Galxe Site Breached, Suspected Involvement of Balancer Hackers

Galxe, a Web3 credential initiative, has advised users to refrain from engaging with the platform following a security incident on its website.

In the meantime, on-chain investigator ZachXBT suggests that the perpetrators may be the same individuals responsible for the recent attack on Balancer’s front end.

• Galxe disclosed the security breach through its official X account on October 6, urging users to avoid visiting the compromised site until the matter is addressed.

• The project had previously notified users that its website was offline and recommended against connecting their wallets, or if already connected, to promptly disconnect and avoid signing any transactions.
• Although the platform has not yet disclosed the extent of financial losses, Galxe’s alert may have come too late, as multiple users have already reported losses of funds.
• According to on-chain investigator ZachXBT, the hacker has begun transferring funds to a specific address and indicated that they might be the same individuals who targeted Balancer’s front end.

• As reported earlier by CryptoPotato, Balancer advised users to avoid interacting with its interface due to an ongoing attack. Shortly after this warning, the hacker managed to steal approximately $238,000. The Ethereum-based decentralized protocol later clarified that the incident stemmed from a social engineering attack.
• Galxe is a Web3 protocol designed to facilitate interactive campaigns for cryptocurrency giveaways and airdrops, providing credential services.

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