The Web3 platform's site is back online, though users are advised to exercise caution. The recent breach might have ties to the previous month's Balancer incident.

On October 6, the Web3 community platform known as Galxe experienced an outage lasting roughly an hour. At 14:44 UTC, Galxe announced via X (Twitter) that their site was inaccessible. A mere 40 minutes afterwards, they confirmed a security compromise concerning their Domain Name System (DNS) and advised users to avoid their site until the issue was fully addressed.

As of now, Galxe hasn't assured users that its website is secure for access. Once the site was back up, a few X contributors noted that it had been restricted by Google.

A Web3 cybersecurity service explained:

Crypto sleuth ZachXBT has alerted that Galxe is being targeted for theft. Even after Galxe's website was restored, the wallet identified by ZachXBT in connection with the breach continued to accumulate funds, standing at about $160,000 by 17:15 UTC.

ZachXBT hinted at a potential connection between the individual targeting Galxe and the entity responsible for the Sept. 19 assault on the Balancer protocol. Remarkably, this was Balancer's second hit within a month.

Balancer's subsequent breach resulted in a $238,000 setback. The Balancer representatives described this event as a manipulation attempt targeting their DNS server, orchestrated by a crypto pilferer known as Angel Drainer. Blockchain protection agency SlowMist proposed that the malefactor might have ties to Russia.

The third quarter of 2023 saw a significant surge in attacks and financial damages to Web3 initiatives compared to the same quarter in 2022. As per Immunefi's latest analysis, attack incidents leaped from 30% to 76% year-on-year, with financial losses mounting up to nearly $686 million in Q3 2023. The most substantial hit during this time was the Mixin breach on Sept. 25.