PlayDapp, a South Korean blockchain-based game development platform and non-fungible token (NFT) marketplace, has lost over $290 million in crypto from an exploit lasting four days.
According to a tweet from the platform’s team, the smart contract of PlayDapp’s native token, PLA, has been paused, and preparations are ongoing to conduct a snapshot for migration.
PlayDapp Hacked for $290M
PlayDapp’s woes began on February 9 when an unauthorized wallet minted 200 million PLA tokens worth $36 million at the time. Blockchain security firm PeckShield revealed that the wallet was recently added after the token’s smart contract’s private keys were compromised and the protocol hacked.
In response to the incident, PlayDapp offered the hacker a white hat bounty of $1 million in exchange for the funds to be returned by February 13. The platform threatened to involve law enforcement agencies in multiple jurisdictions in a criminal investigation if the hacker failed to accept the offer.
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