'Everything is fine' — Gala Games calls for calm after fears of multi-billion...
Gala Games said the unusual activity of its pGALA token was actually part of efforts to safeguard it from potential attack. Blockchain gaming company Gala Games urged its community for calm after misplaced fears of a multi-billion dollar rug pull or hack caused the GALA token to temporarily crash 25.6%.The initial panic, which Gala Games later implied was unfounded, came after a single wallet address appeared to mint over $2 billion GALA tokens out of thin air — which was flagged by blockchain security firm PeckShield on Nov. 3.Fears that the unusual activity was a sign of an exploit or....
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Amid several difficulties and financial crises in the crypto industry, the value of Gala Games’ native token, GALA, dropped 90%. Community members are speculating the cause of this massive decline is hack exploitation. Some revealed rumors of a billion-dollar rug pull. However, Gala Games debunked the rumors saying all is well. Gala Games is a […]
In a recent security incident, Gala Games, a Web3 gaming company, fell victim to an exploit that led to the unauthorized minting of 5 billion tokens, equivalent to approximately $214 million. The hacker behind the breach subsequently sold 592 million GALA tokens, amounting to $21.8 million in value, as blockchain analysis firm Lookonchain confirmed. CEO Of Gala Games Takes Responsibility For Breach Gala Games responded to the breach, assuring the community via social media platform X (formerly Twitter) that the security incident involving the GALA token had been contained and that the....
Huobi claimed that calling the incident a white hat move was only pNetwork’s excuse to avoid legal sanctions. Days after GameFi project Gala Games and decentralized finance (DeFi) protocol pNetwork assured its community that everything was fine, crypto exchange Huobi Global came out with its version of the story, accusing pNetwork of earning a $4.5 million profit from the recent pGALA crash. On Nov. 3, a suspected attacker minted $2 billion worth of Gala tokens (GALA) on the Binance Smart Chain and dumped a portion of the tokens on PancakeSwap, earning a total of 12,977 Binance Coin (BNB),....
PRESS RELEASE. Jackson, Wyoming (August 29, 2022) – Gala Games, the leading pioneer in web3 entertainment and blockchain gaming, today announced that Spider Tanks, the first Web3 PvP esports brawler, will launch on October 31, 2022 as the debut game on Project GYRI, Gala Games’ proprietary games-first blockchain. In anticipation of the launch, starting today Gala is kicking off a limited time sale for its Spider Tanks Planetary Nodes. Planetary Nodes will be operated by community members who have purchased licenses in this sale. In return for using their computing resources....
GALA gains 117% so far in February as the ecosystem continues to attract new users. The play-to-earn (P2E) gaming sector of the cryptocurrency ecosystem has been one of the most resilient sectors to the volatility and price declines seen in the past couple of months as gamers are jumping on the ability to earn income while playing tokenized videogames.One project that has seen its token price climb rapidly in the first week of February is Gala (GALA), a protocol focused on utilizing blockchain technology to give players control of the games they play and in-game items they acquire. Data....