Satoshi

Million

RebelSatoshi

Read

Gala

<p>Gala Games has fallen victim to a security breach that resulted in the unauthorized minting and selling of a substantial amount of its native token, GALA. According to <a href="https://x.com/lookonchain/status/1792739516790579602?s=46" target="_blank" rel="noopener noreferrer nofollow">Lookonchain</a>, the hacker managed to mint 5 billion GALA tokens, worth approximately $214 million at the time of the exploit.</p>
<h2 class="wp-block-heading" id="rapid-dumping-and-blacklisting">Rapid Dumping and Blacklisting</h2>
<p>The attacker wasted no time in capitalizing on the illegally obtained tokens, quickly dumping 592 million GALA tokens on the market in exchange for 5,952 ETH, valued at around $21.8 million.</p>
<p>However, Gala Games swiftly noticed the exploitation and took decisive action by blacklisting the hacker’s address, effectively preventing any further selling of the compromised tokens.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="578" src="https://captainaltcoin.com/wp-content/uploads/2024/05/image-619-1024x578.png" alt="" class="wp-image-494134" srcset="https://captainaltcoin.com/wp-content/uploads/2024/05/image-619-1024x578.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-619-300x169.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-619-768x433.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-619-1536x866.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-619-2048x1155.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-619-266x150.png 266w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-619-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-619-620x350.png 620w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-619-788x444.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-619.png 2028w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<h2 class="wp-block-heading" id="gala-games-response-and-investigation">Gala Games’ Response and Investigation</h2>
<p>In an official statement released on X, Gala Games confirmed that the security incident involving the GALA token had been contained and that the impacted wallet had been frozen. The company emphasized that this was an isolated incident and that the underlying cause had been addressed.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">The security incident involving the <a href="https://twitter.com/search?q=%24GALA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$GALA</a> token has been contained and the impacted wallet has been frozen.<br><br>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.…</p>— Gala Games (@GoGalaGames) <a href="https://twitter.com/GoGalaGames/status/1792727587460104377?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">May 21, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>Gala Games is now working closely with law enforcement agencies, including the FBI and DOJ, as well as a network of international authorities, to investigate the individuals behind the breach. The company remains committed to maintaining the highest standards of security and transparency and has pledged to provide updates as the investigation progresses.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   New Meme Coin to Watch Aiming to be Next $BONK, $WIF or $MEW
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p><strong><a href="https://mileimoneda.io/?utm_source=marketing&amp;utm_medium=inarticle&amp;utm_campaign=cap&amp;utm_id=s1" target="_blank" rel="noopener noreferrer nofollow">Milei Moneda</a></strong> is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president&nbsp;known for his libertarian and pro-Bitcoin stance. You have an opportunity with the <strong><a href="https://mileimoneda.io/?utm_source=marketing&amp;utm_medium=inarticle&amp;utm_campaign=cap&amp;utm_id=s1" target="_blank" rel="noopener noreferrer nofollow">ongoing low presale price</a></strong> to get in early!</p>
    <p><em>Sponsored</em></p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<h2 class="wp-block-heading" id="internal-controls-and-community-decision">Internal Controls and Community Decision</h2>
<p><a href="https://x.com/Benefactor0101/status/1792698768166715776" target="_blank" rel="noopener noreferrer nofollow">Benefactor</a>, a representative of Gala Games, acknowledged the company’s responsibility in the incident, stating that they had “messed up” their internal controls. The company is taking steps to ensure that such an incident does not occur again in the future.</p>
<p>It is important to note that the Ethereum contract for GALA tokens remains secure and under the protection of a multi-sig wallet, which was never compromised during the exploit.</p>
<p>However, the incident has raised concerns about the daily distribution of GALA tokens, and Gala Games has announced that a node vote will be held to determine how to handle this issue. As with previous decisions, the community will have the final say on how to proceed.</p>
<p>Despite the setback, Gala Games remains optimistic about the future, with Benefactor stating, “Can’t stop…won’t stop! Moving on to bigger and better things.” The company’s resilience and commitment to its community are evident in its swift response to the incident and its determination to learn from the experience and strengthen its security measures.</p>
<p><em><strong>Read more:&nbsp;<a href="https://captainaltcoin.com/lido-dao-ldo-and-pyth-prices-are-pumping-heres-why/" target="_blank" rel="noopener noreferrer nofollow">Lido DAO (LDO) and PYTH Prices Are Pumping – Here’s Why</a></strong></em></p>
<p><em><strong>Join <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="aethir" href="https://captainaltcoin.com/go/aethir/" data-shortcode="true">Aethir’s exclusive airdrop</a> and earn badges by participating in events or holding community tokens. Complete tasks and secure your spot before the snapshot date is revealed!</strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/REBEL-SATOSHI-RECQ-MEME-COIN-qndahijqjwle5mml7gg8my30uqig0eo11vxmtat25a.png" width="500" alt="Check $RECQ Meme Coin" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-recq-meme-coin-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check $RECQ Meme Coin</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy RECQ Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Serves as the base currency for all transactions within the Rebel Satoshi platform <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>ICO stage, offering tokens at a discounted price <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade, <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
    </div>
   </div>
  </div>
 </div>
</div>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/REBEL-SATOSHI-RECQ-MEME-COIN-qndahijqjwle5mml7gg8my30uqig0eo11vxmtat25a.png" width="500" alt="Check $RECQ Meme Coin" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-recq-meme-coin-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check $RECQ Meme Coin</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy RECQ Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Serves as the base currency for all transactions within the Rebel Satoshi platform <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>ICO stage, offering tokens at a discounted price <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade, <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/gala-games-suffers-214-million-hack-through-minting-of-unauthorized-gala-tokens-heres-what-happened-next/" rel="noopener noreferrer nofollow">Gala Games Suffers $214 Million Hack Through Minting of Unauthorized GALA Tokens – Here’s What Happened Next</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Gala Games Suffers $214 Million Hack Through Minting of Unauthorized GALA Tokens – Here’s What Happened Next

目次

CaptainAltcoin

2024年5月21日公開の他の記事

Is It Too Late To Buy ENS? Ethereum Name Service Price Soars 42% On ETH ETF Optimism And This Cry...

Why Investors Are Rushing to This Memecoin

Ethereum short squeeze: $3,600 rally wipes out $80 million!

Ethereum Price Prediction: ETH Soars 19% As Bloomberg Boosts ETF Approval Odds And This Green AI ...

Crypto market rebounds, lifting crypto-related stocks: what’s next?

GameFi Studios in the Spotlight: Best Cryptos to Capitalize on This Booming Trend

ニュースレターを購読して暗号資産の最新情報を毎日入手！