Crypto NewsAltcoinNew Development in the Massive GALA Hack - Founder Makes a Statement

New Development in the Massive GALA Hack – Founder Makes a Statement

A new statement has been made regarding the GALA hack incident that took place yesterday and made a lot of noise in the cryptocurrency market.

Follow Bitcoin Sistemi Google News Button

The wallet address associated with the recent Gala Games (GALA) attack partially returned the stolen funds.

According to Onchain data, the wallet in question transferred back 5,913.2 ETH worth $22.5 million. This figure is close to the amount of GALA tokens sold immediately after the attack on Monday.

Earlier this week, an unknown hacker mined 5 billion GALA tokens worth over $200 million. This incident led to a 15% drop in the price of the platform's native token, GALA.

Eric Schiermeyer, co-founder of Gala Games, known online as Benefactor, announced that the attacker sold 600 million GALA, worth approximately $21 million at the time, and burned the remaining 4.4 billion tokens. He also added that Gala Games blocked and removed unauthorized access to the GALA contract within 45 minutes of the attack.

Related News  BREAKING: Grayscale Allegedly Filed a Trust Application for a Very Surprise Altcoin - But It's Most Likely Fake News!

“We messed up our internal controls,” Schiermeyer admitted.

“This should not have happened and we are taking steps to ensure it never happens again. We believe we have identified the culprit and are now working with the FBI, DOJ and a network of international authorities.”

In his statement on Discord, Schiermeyer added that the amount sent back by the hacker will probably be used for GALA token buybacks and burns.

*This is not investment advice.

Buradaki Yorumlardan Bildirim Al

Inline Feedbacks
View all comments

Popular Posts of the Week