Page

Million

PlayDapp

<a href="https://bitcoinworld.co.in/crypto-gaming-platform-playdapp-lost-290-million-worth-of-pla-tokens-in-two-hack-exploits/" title="Crypto Gaming Platform PlayDapp Lost $290 Million Worth Of PLA Tokens In Two Hack Exploits" rel="noopener noreferrer nofollow"></a>
PlayDapp, a popular crypto gaming and NFT platform, experienced two hack exploits on Feb. 9 and again on Feb. 12.
The hacker minted 1.79 billion PLA tokens worth over $290 million through the exploits and began laundering the funds.
An exploit of crypto gaming platform PlayDapp resulted in the loss of millions worth of the PLA token that powers PlayDapp’s gaming platform and NFT marketplace, according to blockchain analytics firm Elliptic.&nbsp;
Elliptic <a href="https://www.elliptic.co/blog/crypto-gaming-platform-playdapp-suffers-290-million-breach" rel="noopener noreferrer nofollow">noted</a> in a Tuesday report that an unauthorized wallet, likely resulting from a private key compromise, minted 200 million PLA tokens worth $36.5 million at the time on Feb. 9.
Shortly after this incident, PlayDapp messaged the exploiter through an on-chain transaction requesting that the hacker return the stolen funds by 3:00 a.m. ET on Feb. 13 for a $1 million white hat reward.&nbsp;
See Also: <a class="row-title" href="https://bitcoinworld.co.in/life-imprisonment-for-south-korean-crypto-criminals-who-steal-more-than-five-billion-won-3-8-million/" aria-label="“Life Imprisonment For South Korean Crypto Criminals Who Steal More Than Five Billion Won ($3.8 Million)” (Edit)" rel="noopener noreferrer nofollow">Life Imprisonment For South Korean Crypto Criminals Who Steal More Than Five Billion Won ($3.8 Million)</a>
If not, PlayDapp said it would issue a $1 million white hat bounty to find the hacker and collaborate with law enforcement.
“Attempts to negotiate with the hacker were unsuccessful as they showed no willingness to help recover holders’ losses,” PlayDapp wrote in a Tuesday statement.&nbsp;
Instead, the hacker minted a further 1.59 billion PLA tokens valued at $253.9 million on Feb. 12 and began laundering the funds through crypto exchanges.&nbsp;
“Before the breaches, the total circulating supply of PLA tokens was 577 million, so the exploiter may find it difficult to sell the 1.8 billion newly-minted tokens at anything close to their market value prior to the hacks,” Elliptic wrote.&nbsp;
<h3 id="span-style-font-weight-400-paused-smart-contracts-span">Paused Smart Contracts</h3>
On Feb. 13, PlayDapp <a href="https://twitter.com/playdapp_io/status/1757357566844342365" rel="noopener noreferrer nofollow">wrote</a> on the social media platform X that the PLA smart contract had been paused.
“We kindly request the halt of transactions to conduct a snapshot for migration,” it said. “Please understand that we are doing everything to protect holders’ assets, and we will continue to keep the community updated.”
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 The PLA smart contract has been paused. We kindly request the halt of transactions to conduct a snapshot for migration. Please understand that we are doing everything to protect holders' assets, and we will continue to keep the community updated.
 — PlayDapp (@playdapp_io) <a href="https://twitter.com/playdapp_io/status/1757357566844342365?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 13, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
PlayDapp added that it is working with crypto exchanges, blockchain forensic firms and law enforcement. In addition, it is tracking minted and swapped tokens and discussing migration solutions, like an airdrop.&nbsp;
PlayDapp’s PLA token was trading for $0.15 as of 10:55 a.m. ET on Feb. 13, decreasing 2.9% over the last 24 hours, according to The Block’s Price Page for PLA.
<blockquote>
 Disclaimer: The information provided is not trading nor financial advice. Bitcoinworld.co.in holds no liability for any trading or investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any trading or investment decisions.
</blockquote>
#Binance #WRITE2EARN
The post <a href="https://bitcoinworld.co.in/crypto-gaming-platform-playdapp-lost-290-million-worth-of-pla-tokens-in-two-hack-exploits/" rel="noopener noreferrer nofollow">Crypto Gaming Platform PlayDapp Lost $290 Million Worth Of PLA Tokens In Two Hack Exploits</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

Crypto Gaming Platform PlayDapp Lost $290 Million Worth Of PLA Tokens In Two Hack Exploits

목차

ItsBitcoinWorld

2024년 2월 14일에 게재된 다른 기사

Financial Titans Edge into Crypto Partnerships and Real-World Asset Tokenization

Popular Altcoin Gets Green Light for Coinbase Listing, Prices Climb

Chainlink Continues Its Six-Month Ascend in the Crypto Market

Bitcoin’s Rally Crushes Short-Sellers: Over $79 Million in Shorts Liquidated

Phoenix Group PLC: Expansion and Market Response

Retik Finance (RETIK) Runs Faster Than Anyone Predicted, Closes Presale Stage 9 Months Ahead of S...

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!