Gala Games $200M Exploit Was An ‘Isolated Event,’ Team Working Closely With Law Enforcement

Web3 gaming project Gala Game was exploited by an unknown attacker, who was described as a compromised or rogue admin address, minted 5 Billion GALA, worth more than $200 million. The security incident has since been contained while the affected wallet has been frozen.

But this action did not stop the price of GALA from crashing almost 20% on May 21st from $0.048 to $0.039. The token has since stabilized.The exec admitted that Gala Games had failed to implement proper internal controls, leading to this unfortunate incident that should never have occurred.

Source: Law Daily Report (lawdailyreport.net)

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