Gala

<ul><li>Gala Games was reportedly exploited, illegally minting 5 billion GALA tokens worth over $200 million.</li><li>Gala Games confirmed the security breach was contained, with the affected wallet frozen.</li><li>The ETH contract remains secure and protected by a multi-sig wallet.</li></ul>According to a recent <a href="https://www.theblock.co/post/295520/gala-games-hacked-gala-token-plummets" rel="noopener noreferrer nofollow">media report</a>, Web3 gaming platform Gala Games may have been exploited on Monday, resulting in the unauthorized minting of 5 billion GALA tokens valued at more than $200 million.Later, in a post on X (formerly Twitter), Gala Games announced that the security breach involving the GALA token had been contained, with the affected wallet now frozen.They also <a href="https://x.com/GoGalaGames/status/1792727587460104377" rel="noopener noreferrer nofollow">emphasized</a> that this was an isolated incident, the root cause has been addressed, and they are collaborating closely with law enforcement to identify those responsible for the breach.Gala Games CEO, Eric Schiermeyer, also addressed the matter in an X post. He <a href="https://x.com/Benefactor0101/status/1792698768166715776" rel="noopener noreferrer nofollow">said</a>:<blockquote>“I always knew there was a reason I never talk shit about other projects getting hacked...I&#39;m sorry to say we had an incident that resulted in the unauthorized SALE of 600million (21million USD) $GALA tokens and the effective BURN of 4.4 billion tokens.”</blockquote>Moreover, Schiermeyer also stated that within 45 minutes of identifying the compromise, the company secured and revoked the unauthorized access to the GALA contract. He also assured that the ETH contract for GALA remains secure, safeguarded by a multi-sig wallet, and was never compromised.This news was originally published on <a href="https://newzchain.com/gala-games-exploit-unauthorized-minting-200m-gala-tokens/" rel="noopener noreferrer nofollow">Newzchain</a>.

Gala Games Exploited, Over $200M Worth Unauthorized GALA Tokens Minted

Newzchain

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