On October 6, the website of Web3 community platform Galxe was offline for about an hour due to a security vulnerability in Domain Name System (DNS) records. Galxe has not confirmed that its site is safe to use again, and some users have reported that the site has been blocked by Google. According to crypto sleuth ZachXBT, Galxe’s funds were stolen and the wallet associated with the vulnerability continued to raise funds after the site came back online, totaling approximately $160,000.

ZachXBT suggested that there is a connection between the Galxe exploiter and the party that attacked the Balancer protocol on September 19. A second attack on Balancer resulted in $238,000 in losses, and blockchain security firm SlowMist said the attackers were linked to Russia.

A report from the security platform Immunefi shows that the losses of Web3 projects increased sharply in the third quarter of this year, with attacks rising from 30% to 76% year-on-year. The losses in the third quarter of 2023 were close to US$686 million. This trend is worrying and the market outlook is worrying.