2024-05-22
On May 20, 2024, a hacker minted $200 million
worth of GALA and sold only a portion of them in a decentralized exchange.
On May 21, 2024, the hacker returned the
stolen fund by sending 5913.2 ETH worth $22.3 million equal to 600 million GALA on May 21.
Gala Games said in a post on X it will be using
GalaSwap to convert ETH back to GALA.
Gala Games team said it used a new “GalaChain’s
blocklist protocol” feature to freeze 4.4 billion GALA from the 5 billion
minted within 45 minutes.
Gala Games has not disclosed the attacker’s
identity yet but presumably the hacker is a security contractor.
Gala Game can track the IP address of the hacker because the hacker’s computer
went off VPN once.
Gala Games CEO, Eric Schiermeyer, said in a post on X that Gala team plan to burn all the GALA token that the hacker minted, he confirmed that Gala completed the burn of 4.4 billion GALA tokens out of 5 billion that the hack minted
