ZachXBT, a crypto investigator, found evidence of funds being robbed on Galxe.
The website was blocked until the problem was fixed.
On the 6th of October, the Galxe website, a Web3 community platform, was down for around an hour. At 14:44 UTC, Galxe posted on Twitter that their website was offline. Forty minutes later, the company confirmed that an attack had compromised its DNS record. The website was blocked until the problem was fixed.
Some twitter commenters claimed that Google blacklisted the site again once it was restored. ZachXBT, a crypto investigator, found evidence of funds being robbed on Galxe. Despite the restoration of the Galxe website, the wallet ZachXBT associated with the exploit continued to accrue funds, reaching about $160,000 at 17:15 UTC.
Similar Attack
The Balancer protocol was attacked on September 19, and ZachXBT suspected that the Galxe exploiter was involved. In a month’s time, it was Balancer’s second time being attacked.
The second assault on Balancer resulted in losses of $238,000. The Balancer team has determined that a crypto wallet drainer known as Angel Drainer was responsible for the issue by posing as a legitimate user in order to get access to the DNS server. SlowMist, a blockchain security company, hypothesized that the attacker had ties to Russia.
Recent data from the security platform Immunefi shows that losses to Web3 projects rose in the Q3 of this year compared to the same period in 2022. In Q3 2023, attacks increased from 30% to 76% year over year, and losses reached $686 million.