GALAXY FOX

DESCRIPTION OF EVENTS

"Galaxy Fox is a web3 platform that features their native token, captivating NFTs, a staking platform, and thrilling play-to-earn gaming ecosystem."

"Welcome to the universe of Galaxy Fox, an exhilarating web3 game where you can embark on an extraordinary journey of collecting, nurturing, and engaging in thrilling battles with your very own Galaxy Fox NFTs."

"$GFOX is a groundbreaking token that combines play-to-earn mechanics with meme culture. Earn rewards by engaging in gameplay, staking your tokens for passive income, and benefiting from the burning feature.Join $GFOX today for a world of meme-driven fun and lucrative opportunities."

"Immerse in Galaxy Fox's captivating NFT Marketplace, where valuable digital collectibles embody cosmic energies. Acquire coveted NFTs to unlock powerful attributes, conquering challenges with celestial finesse. Transactions support the ecosystem's treasury, ensuring stability and ongoing development."

"The vibrant merchandise shop in the Galaxy Fox ecosystem offers captivating products, with profits funding the treasury for sustainability and growth. Customers can earn points to exchange for $GFOX tokens, enhancing their engagement and involvement within the ecosystem."

"The core of the Galaxy Fox ecosystem is an immersive play-to-earn game that captivates global gamers. Embark on thrilling adventures, complete challenges, and earn valuable rewards. Active participation in the game allows players to accumulate $GFOX tokens and in-game assets, rewarding their skills and dedication with a tangible sense of achievement."

"The vulnerable and exploited contract was unverified, so we attempted to decompile it. The setMerkleRoot function was set to a public visibility access specifier and lacked enough access control to allow anyone to change the merkel roots."

"This allowed them to invoke a call to the claim function to falsely claim and withdraw 108 ETH worth of funds from the contract."

"The original attacker was followed by yet another copycat attacker, who was also able to successfully execute the said attack to take away the remaining funds. The original attacker approved 99.79 ETH or $289,221 for his trade and has a hold of 9.03 ETH at this address, which is worth roughly $26,167."

"The copycat attacker took away approximately 27.8 million GFOX tokens and swapped them for 2.32 ETH, which were worth roughly $7029. As of this writing, the wallet of the copycat attacker has a hold of 2.17 ETH, which is approximately $6,294. This attacker has also already laundered 2 ETH, amounting to roughly $5,800 to Tornado Cash, as seen in these and other transactions."

"To address the vulnerability exploited in the Galaxy Fox token incident, a comprehensive revision of the smart contract's access control mechanisms is essential. The primary flaw was the public accessibility of the setMerkleRoot function, which should have been restricted to only authorized addresses. Implementing proper access control can be effectively achieved by utilizing modifiers in the Solidity programming language."

resulted in a loss of over 108 ETH, worth approximately $330,000.

Explore This Case Further On Our Wiki

Galaxy Fox offers a staking, NFT, pay to earn gaming ecosystem centered around the Galaxy Fox token. On May 9th, an exploit was performed against their smart contract, allowing the attacker to change the merkle root which protects funds in the contract. There were two transactions which withdrew funds from the smart contract to attackers. The Galaxy Fox team does not appear to have acknowledged the exploit happening via any of their social media.

SlowMist Hacked - SlowMist Zone (May 30)
@SlowMist_Team Twitter (May 31)
@Nobody_628 Twitter (May 31)
@SlowMist_Team Twitter (May 31)
@GalaxyFoxToken Twitter (May 31)
How Was Galaxy Fox Token Exploited? (May 31)
Ethereum Transaction Hash (Txhash) Details | Etherscan  (May 31)
https://galaxyfox.io/ (May 31)
Address 0xfce19f8f823759b5867ef9a5055a376f20c5e454 | Etherscan  (May 31)
@Phalcon_xyz Twitter (May 31)

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