Popular altcoin Galxe that shut down its website plummets!

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While many platforms are facing hacking issues, another platform has admitted to the theft of user assets. Galxe, the popular Web3 platform, reported that some user assets were stolen.

Wu Blockchain, China’s popular cryptocurrency newspaper, reported that they met with the Galxe team and they said that Galxe had some user assets stolen due to security issues. At the same time, many Galxe users also reported that their balances disappeared after trading on the platform.

Galxe quickly shut down the site to avoid user victimization until they found the problem with the platform. Their first and quick response to this critical situation was to shut down the website. After shutting down the website, the Galxe team managed the process by informing the community.

Galxe HackedThe @Galxe website is offline. We will bring it back online once the correct DNS records are propagated globally. As long as you didn’t approve any transaction of the connected wallets on Galxe after 6am PST, October 6th, your funds and info are all secure.

Immediately after the Galxe hack and the shutdown of the website, GAL coin lost 5% of its value.

The Galxe team has stated that until they fix the whole process, interacting with the project’s site can be risky. We strongly advise you not to connect your Web3 wallet to Galxe, which is a Web3 platform, and to actively follow the process with EXEcryto. Galxe officials stated that they are in the process of resolving the issue, while all users are waiting for the platform to be active again.

Update: Galxe officials have confirmed that the platform is active again.

Galxe Execrypto

Dear Galxe fam, Today you were truly upset, hurt, and attacked by this security incident. So were we. The website has now fully recovered, and we are continuing to enhance security. We sincerely apologize for what happened.

The very rapid rise and fall of altcoins continues to create fear in users. Bitcoin is always the strongest in this process. Don’t forget to read our article What is Bitcoin (BTC) and How Does It Work? to learn everything about Bitcoin!

What is Bitcoin (BTC) and How Does It Work?

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