Galxe has repaid users 110% of the money they lost in a recent front-end hack—more than $400K.
The platform found itself ensnared in a cunning phishing ploy that directed unsuspecting users to a website, siphoning their financial resources once they unwittingly authorized a transaction. Galxe , in a remarkable display of commitment, is making amends by reimbursing affected users with a generous 110% compensation following a recent security breach, as officially declared on the 10th of October. “We wish to express our profound gratitude to those steadfast individuals who stand by our side during these challenging times,” the company conveyed. The restitution process is set to unfold automatically on the 16th of October, channeling the funds back to their original wallet addresses, unless, of course, an alternative course of action is preferred by the affected users . As a gesture of goodwill, the reimbursement will be disbursed in Tether, with the valuation determined as of 10:00 am UTC on the 9th of October. The impact of the security breach was felt most acutely...