GalaGames ($GALA) exploiter returns $22.3 million worth of Ethereum
Exploiter returned 5913.2 ETH to Gala Games and also official confirmation came to the public domain by the Gala Games team.
Gala Games is a blockchain-based gaming platform that gives players ownership and control over their in-game assets. Founded in 2019 by Eric Schiermeyer, Gala Games uses decentralised tech to empower game players. The platform supports games where in-game items and currencies are NFTs and cryptocurrencies, allowing for real ownership and trading of assets.
On 20 May 2024, An unknown hacker exploited the GalaGames. As per the report, hackers minted $200 million worth of GALA tokens & a small portion of the minted tokens were sold, before the wallet was frozen.
On 21 May, many on-chain blockchain investigators noted that the hacker returned 5913.2 ETH worth $22.3 million back to Gala Games. This amount of ETH was secured by the exploiter via the sale of a small portion of the minted token.
Gala’s advisor also said that on-chain data showed the hacker returned funds.
Later, the GalaGames team also reported on X (formerly Twitter) that funds have been recovered successfully and they confirmed that they will now swap ETH coins for Gala tokens & also compensate the affected users.
Through a dedicated blog post, the Gala team reported that they imposed pressure on the hacker with the help of a swift, effective response and the involvement of Federal law enforcement agencies.
The current trade price of the Gala token is $0.044 & this trade price is 4.5% higher over the last 24 hours.
The trade price graph of the Gala token showed that the trade price remained almost unfazed, while there was a small dump, following this hacking news on Monday.
