Read

Galxe

<div class="cryptonews">
 Galxe unveils a comprehensive Fund Recovery Plan to reimburse affected users and bolster <a rel="noopener noreferrer nofollow" title="security" href="https://thebittimes.com/tag/security.html">security</a> <a rel="noopener noreferrer nofollow" title="follow" href="https://thebittimes.com/tag/follow.html">follow</a>ing last week’s DNS <a rel="noopener noreferrer nofollow" title="breach" href="https://thebittimes.com/tag/breach.html">breach</a>.
 Following last week’s security breach, leading web3 community-building platform Galxe unveiled a comprehensive ‘Fund Recovery Plan‘ to address the losses incurred by its user base. The initiative aims to provide a structured approach to reimbursing affected parties and fortifying the platform’s security infrastructure.
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 We have crafted a thorough <a rel="noopener noreferrer nofollow" title="recovery" href="https://thebittimes.com/tag/recovery.html">recovery</a> plan to make you whole for the incident. In addition to recovering the full amount, we’re including an extra 10% as a commitment of goodwill and faith. Read more: https://t.co/y3H79ZrsG3 pic.twitter.com/2W1Z5Esn8F— Galxe (@Galxe) October 10, 2023
 </blockquote>
 </div>
 </figure>
 Affected users are requested to submit pertinent documentation, such as screenshots or transaction addresses, to verify their claims. By default, Galxe will direct the recovered funds to users’ original wallet addresses. However, for those who prefer an alternative, the platform has made available a special form to designate a different wallet address for the transaction.
 The company expressed its commitment to heightened security measures, backed by the expertise of top-tier engineers and cybersecurity professionals. The breach was caused by a DNS attack on Galxe’s domain nameservers on Dynadot. The platform has pledged a refund of $396,000 to affected users.&nbsp;
 While the <a rel="noopener noreferrer nofollow" title="breach" href="https://thebittimes.com/tag/breach.html">breach</a> was a significant setback, Galxe’s swift and structured response is being commended by the community. Galxe is also effectively interacting with any users who have concerns about the platform’s future <a rel="noopener noreferrer nofollow" title="security" href="https://thebittimes.com/tag/security.html">security</a>.&nbsp; Follow Us on Google News
</div>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/galxe-announces-fund-recovery-plan-worth-396k-following-security-breach-tbt66049.html">https://thebittimes.com/galxe-announces-fund-recovery-plan-worth-396k-following-security-breach-tbt66049.html</a>

Galxe announces fund recovery plan worth $396k following security breach

TheBitTimes

Other articles published on Oct 11, 2023

Payhippo appoints Dami Olawoye as new CEO, to succeed Zach Bijesse

Soccerment Joins Forces with Inter Milan’s Federico Dimarco to Usher in the AI Era of Football

MPs in Britain call for action on NFT copyright violations and cryptocurrency fan tokens.

Artfi attracts over 25,000 collectors for fractionalized digital artwork in Web3

MASAK Allegedly Prepared a Report About Dilan Polat and Engin Polat: Cryptocurrency Details Attra...

Cardano (ADA) Price Prediction 2024, 2025, 2030, 2040, and 2050

Join our free newsletter for daily crypto updates!