Security

Gala

Gala Games, a blockchain gaming platform, has been struck by another security breach. Around $200 million worth of $GALA tokens were minted and systematically sold by a rogue Gala Games admin address. According to on-chain movements, tokens worth $200 million were being exchanged for ETH. 
More use of decentralized systems would help prevent such exploits. However, this is not actually the first security breach for GALA; back in 2021, the platform suffered a loss of $130 million. The scammers impersonated the Gala Games official X platform profile to promote a fake token migration event. 
Gala Games’ endless security breaches show the need for critical and secure security measures and, most importantly, the use of decentralized systems within the gaming industry to protect users and maintain trust. 
As per the writing time, GALA is trading at $0.04252 following Coinmarketcap stats. 
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 Image Source: <a href="https://coinmarketcap.com/currencies/gala/" target="_blank" rel="noopener">CoinMarketCap</a>
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<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/05/21/former-congressman-kendrick-meek-joins-coinbase-advisory-council/">Ex-Congressman Kendrick Meek joins Coinbase’s Crypto Council</a> 
</blockquote>

Gala Games Faces $200M Security Breach

The Crypto Times

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