Galxe, a Web3 credential data network platform, is under scrutiny due to suspected security vulnerabilities, with several users alleging that their assets were pilfered after authorising the Galxe platform with their wallets.
Alarm bells first rang off when users were prompted to authorise the use of their assets when logging on the Galxe platform.
In response to the security breach, Galxe promptly took down its website to address the issue, issuing an advisory urging users not to link their wallets to Galxe temporarily.
The breach was traced back to a security lapse in the DNS record for “http://galxe.com,” identified via the Dynadot account.
Crypto investigator ZachXBT has noted that stolen funds appear to be funnelled into a wallet address closely associated with the individual behind a recent Balance frontend attack.
As of writing, the wallet currently holds approximately 67,000 USD worth of tokens.
This incident has stirred discontent among Galxe users on the X (formerly known as Twitter) who claim to have fallen victim to crypto theft as a result of this breach.