Cryptocurrency

ETF COIN

Coin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/hack-causes-massive-loss-for-gala-coin-investors/" data-wpel-link="internal">Hack Causes Massive Loss for GALA Coin Investors</a> 
Cryptocurrency <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> are experiencing both excitement and dread simultaneously. The overall market sentiment is positive. However, a popular <a href="https://en.coin-turk.com/bitcoin-and-altcoins-price-predictions-and-market-analysis-2/" data-wpel-link="internal">altcoin</a> suddenly dropped while preparing for a double-digit rise. The reason is it got hacked. A loss of 200 million dollars occurred. 
<h2 style="text-align: justify" id="why-is-gala-coin-dropping">Why Is GALA Coin Dropping?</h2> 
According to on-chain movements, GALA Coin was hacked, and tokens worth 200 million dollars are being exchanged for ETH. The popular altcoin rose to $0.048 and then quickly fell to $0.0395. The timing was so terrible. While the entire market was rising with ETH ETF approval rumors, GALA Coin price had gained 8%, but now it has dropped more than 7%, resulting in a double-digit loss. 
<img loading="lazy" loading="lazy" decoding="async" class=" wp-image-353731 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/GALA-Coin-hacklendi.png" alt="" width="1234" height="593"> 
The team has not yet provided a reasonable explanation for this on-chain activity. Many sources report the 200 million dollar loss as <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">breaking news</a>. If the team confirms this in the coming minutes, we may see accelerated sales for GALA Coin. Investors are advised to be cautious of potential dump movements and deeper losses. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/hack-causes-massive-loss-for-gala-coin-investors/" data-wpel-link="internal">Hack Causes Massive Loss for GALA Coin Investors</a></h5>

Hack Causes Massive Loss for GALA Coin Investors

Table of Contents

COINTURK NEWS

Other articles published on May 20, 2024

Ethereum (ETH) Nears Key Breakout, Eyes $4,000 Target

PlanB Highlights Bitcoin’s 2024 Bull Market

The 3 Best Cryptos to Buy Before the NFT Market Booms

VALR Expands Services with TRON Network Support and New TRX Staking Product (20 May)

Bitcoin and Cardano Skyrocket With 716% Increase in Fund Flows

Analyst Sees Ethereum’s Price Surge

Join our free newsletter for daily crypto updates!