Gala Games experienced a significant security breach due to internal control failures, resulting in the minting and unauthorized sale of $29 million worth of GALA tokens.
Security Breach Shakes Gala
Gala Games, a blockchain gaming startup co-founded by Zynga’s Eric Schiermeyer, has experienced a major security breach involving its GALA tokens. The incident, revealed in an X post on May 21, resulted in a significant financial loss.
“This was an isolated incident, the cause of which has been addressed, and we are working closely with law enforcement to investigate the individuals behind the breach.”
On Monday, blockchain explorers detected an unknown entity minting 5 billion GALA tokens, valued at approximately $200 million. The attacker managed to sell 600 million of these tokens on the decentralized exchange Uniswap before Gala Games froze the compromised wallet, making the remaining 4.4 billion tokens unsellable and effectively burning them.
Slow Initial Respons
We współpracy z: https://cryptodaily.co.uk/2024/05/gala-games-faces-internal-control-failure-leading-to-200-million-token-exploit
