Huobi Global teamed up with the Gala Games crypto team to compensate for the loss that some Gala holders faced around 5 months ago.
Gala Games is an Ethereum network-powered blockchain game project. Gala token is a native token under this crypto project. Around 5 months ago, a bad actor minted $1 billion worth of Gala tokens on the pNetwork on the BNB chain pool. At that time hackers sold around $4.5 million from the Liquidity Pool. That BNB chain was developed by the pNetwork crypto team.
On 20 March 2023, Gala Games sued pNetwork over negligence & tortious interference and asked for $27.7 million as a compensation fine.
On 3 April 2023, the Huobi crypto exchange announced that a lawsuit has been initiated against pNetwork and now Gala Games will offer its affected users $25 million worth of node licences. In the next week, Huobi & Gala will use the fund to rescue all those affected users.
So now here we can say that Gala Games & Huobi exchange will release around $50 million to GALA token holders who lost money in a scheme involving the utility token fall.
Huobi partners Gala Games
On 4 April, Huobi exchange announced its technical level of partnership to bring a better experience for the gamers in Huobi’s Web3 gaming ecosystem with Gala games.
Gala token
The current trade price of the Gala token is $0.0398 & this trade price is 4.85% high over the last 7 days of trade price.
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