Gal token started to face a significant downfall, as the token traders found its official website offline.
Galxe is a new crypto project focussed on Web3 & decentralised data processing. This project was launched in April of this year. Gal is the native token of this project and this token is available to trade on the Binance crypto exchange.
The current trade price of this token is 3.41% down over the last 24 hours’ trade price. In the trade price graph, we can see that the trade price of this token crashed sharply nearly 12 hours ago.
The sharp downfall in the trade price took place because of the panic among the Gal token traders, as the Galxe website went offline.
Following the whole situation, the Gal token team responded officially and confirmed that its website was compromised & suggested users not interact with the website & also revoke access belonging to address 0x0000eaab14253e1421aef4F48eE539F2653C0000 using revoke.cash
Dear Galxe Community,
We recognize the impact that recent events have had upon our users and are quickly working to take remedial action. The Galxe security team continues to take an aggressive approach to protect your data, funds and digital assets.
Steps You Should Take:
Do…
— Galxe (@Galxe) October 6, 2023
Do…
5 hours ago, the team confirmed that they recovered the website control and now the website is on maintenance to fix the vulnerability as well as to conduct new development to bring the website back and also confirmed that soon it will share the fund recovery program as the exploiter drained $200k funds with the help of this attack.
Hacking attacks on the Crypto platforms is a very common thing, as hackers can easily launder the funds via a crypto-mixing platform within a matter of clicks.
Last month we reported that the CoinEx crypto exchange faced a very big hack attack & lost nearly $50 million. The CoinEx team invited hacker(s) to take some bounty rewards & return the funds.
So far to date, the CoinEx team failed to find any critical information related to hackers but still tracing the blockchain transactions with the help of other crypto companies to catch the attacker.
Read also: Taiwan is very near to draft crypto Act
Binance listed Gal token crashes following its official website hack news
https://bitcoinik.com/binance-listed-gal-token-crashes-following-its-official-website-hack-news/feed/
https://bitcoinik.com/binance-listed-gal-token-crashes-following-its-official-website-hack-news/feed/
