Galxe, a Web3 credentials and rewards platform, has taken swift action to address a recent DNS attack that left its users vulnerable. The platform has announced a refund of over $396,000 for more than 980 affected users, along with an additional 10% compensation on the lost funds. The refunds will be automatically returned to the users’ wallet addresses, unless alternative instructions are provided. The funds will be refunded in Tether (USDT) and are scheduled to be processed on October 16th. Galxe has also implemented enhanced security measures to prevent future attacks, including collaborating with security firms, enhancing domain name and service security settings, changing its domain provider, and initiating security audits. The incident was caused by a domain registrar resetting their account information and granting permission to an impersonator. Galxe is a permissionless self-sovereign identity infrastructure, and its native token, GAL, experienced a drop in value but has since stabilized.

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Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	0
People	Charles Wayn
Companies	Galxe, Dynadot
Currencies	Tether
Securities	None