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Gala Games calls for calm after fears of billions hack

Gala Games calls for calm after fears of billions hack

The blockchain gaming company called Gala Games has urged to keep calm. Many feared a large-scale hack that also caused the GALA token to temporarily crash by nearly 26%.

Panic for nothing

There Was Major Panic After a Wallet Address Over $2 Billion in GALA Tokens out of nowhere seemed to create. This was also highlighted by the blockchain security firm PeckShield. This news, in turn, caused the price of the GALA token to fall by 25.6%, from $0.0394 to 0.0293.

According to Gala Games, however, nothing was wrong. According to them, many people throw up the words ‘hack’ and ‘back’ without knowing whether this is the case. Neither is the case at Gala Games.

Protect against potential vulnerability

However, according to Gala Games, there was some unusual activity on the decentralized exchange PancakeSwap. For example, pNetwork was tapping the liquidity pool, but precisely with the aim of protecting it against a possible vulnerability.

A misconfiguration is reported to have taken place, which has since been confirmed by pNetwork. pNetwork is a cross-chain interoperability bridge used by Gala Games on the BNB Smart Chain. pNetwork also responded to a tweet from Peckshield to note that it “coordinated the white hat attack” to prevent pGALA from being abused:

Panic is less now

These statements, in turn, have reduced the panic. The value of the GALA token now appears to have recovered from its 24-hour low.

Gala Games confirmed that all GALA tokens on Ethereum and GALA-related assets on the GALA bridge were safe. The team, along with pNetwork, informed the community of its decision to “temporarily suspend” transaction activity on the bridge. Brink also advised against purchasing pGALA on PancakeSwap for the time being. Finally, the pNetwork said the following:

A new pGALA token will be created to replace the old compromised token, which will be sent to those who owned pGALA before the pool was purged.

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