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October 6th Security Incident Fund Recovery Plan
October 6th Security Incident Fund Recovery Plan

Information regarding the recovery plan surrounding the incident on 10/06/2023.

Operation Team avatar
Written by Operation Team
Updated over a week ago

Dear Galxe community,

We want to express our deepest gratitude to those who are standing by us during this difficult time. Our profound thanks go out to the projects and individuals who assisted in raising awareness, offering timely status updates, and mitigating further harm arising from this security incident.

To the users who were affected, we recognize the impact of this security incident and have created a comprehensive recovery plan to make you whole.

Please note: The only users impacted were those who authenticated the transactions on the phishing site. All other transactions with Galxe, including your Galxe ID, social identity information, Galxe Passport, and beyond, remain uncompromised.

A thorough breakdown of the incident is available here.

A Step-by-Step Guide:

  1. Review this Google Sheet for the preliminary estimate of all affected users. Note that this list is continuing to develop as more updates are provided to Galxe. We are working with third-party security firms to conduct a final analysis. If your wallet address matches our records, there is no action required on your end. If you prefer to provide us with a new wallet address for us to send funds, please follow step 4.

  2. Any user who lost funds will be made whole in USDT on Polygon, as valued at Oct. 9, 3 a.m. PT. To show our appreciation for your trust in Galxe, we are providing an additional 10% over the initial loss amount provided by Galxe’s company treasury.

  3. If you believe you were affected, but your wallet address is not on the list, or should you ascertain an error in the value calculation of your loss, please contact our support team before Oct. 16, 8 a.m. PT at [email protected], providing pertinent documentation such as screenshots or transaction addresses.

  4. By default, we’ll send funds to your original wallet address. If you wish the funds to be sent to a different wallet address, please fill out this form.

Our users’ assistance is invaluable, and we encourage you to communicate any further questions or concerns. With the expertise of our top-tier engineers and security professionals, we are setting up measures to ensure incidents like this one are averted in the future. We believe that our community will emerge even stronger from this challenge and deeply appreciate your patience during this time.

To assist us with the investigation into the incident, please fill out this form.

Trust is forged over days, weeks, months, and years; we recognize that this trust might have been tested recently. Please be assured that our goal is to rebuild this trust and once again prove our commitment to our valued users.

Sincerely,

The Galxe Team.


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