Galxe shares recovery plan for affected users

Galxe suffered a security issue on October 6, 2023. The venture has now come up with a plan to make recovery accessible to those users who were affected. Reference first: select users had authenticated a transaction on the phishing site. Thereby, they lose their funds to the scammers. However, Galxe has made most of the recovery and is in the works to enable the return to those users.

The guide has a total of 4 steps, with each step being independent of the other and effective for users as per their conditions. For instance, users wanting their funds back in the same wallet will automatically see the funds appear in their wallet. Those who wish to provide a new wallet address must follow a different rule to inform and then claim the damage.

Galxe is working with third-party security firms to review the final analysis. Wallet addresses must match the record for funds to automatically appear in the account. Glaxe has created a Google Sheet to state the estimated number of affected users. Any miscalculation of missing information—wallet address or amount—can be brought to the team’s attention by sending an email.

This constitutes another step in the guide. It requires users to contact the support team at Galxe before October 16, 2023, 8 a.m. PT. Only those who were affected but don’t see their wallet addresses mentioned on the list can send the email. Miscalculating the value is also a genuine reason to connect with the support team. All they have to do is send the email with the required documentation, screenshots of the transaction, and address.

Emails have to be sent to [email protected]. Galxe is making up for the loss of funds in USDT on Polygon. This will be measured as of October 9, 2023, at 3 a.m. PT. Galxe is going a step forward to show its appreciation by giving an additional 10% over the initial loss. This will be provided out of the company’s treasury.

Finally, users who wish to receive the recovery in a new wallet address can share the updated information by filling out a form, a link of which can either be sought from the support team or checked at the official website of Galxe.

Galxe has assured users that their critical information, like social identity information, Galxe ID, and Galxe Passport, is safe. The team was able to stop the attack at the right time. Now, a comprehensive plan has been deployed to assist users in recovering. So, Galxe has not only mitigated further damage but is also rolling out the recovery to users within 30 days of the incident.

It is recommended to connect with Galxe in case users have any doubts. Meanwhile, Galxe is working with engineers and security firms to make sure that such incidents do not happen again. They are confident that the community will only emerge stronger following this incident.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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