What Happened To Gala Games (GALA)?

Gala Games, also known as GALA, is a gaming platform that incorporates crypto and NFT into its ecosystem. They offer a wide range of game genres, including multiplayer online battle arena (MOBA), role-playing game (RPG), real-time strategy, and many others. Consider steam, but more so. You can use cryptocurrency to purchase assets and retain sole ownership of them. So, what happened recently to Gala Games? How did it fall by nearly 30%?

Exploitation Suspected in Gala Games


PeckShield, a blockchain security startup, discovered on November 3 that a single wallet address minted over $2 billion GALA tokens. The token appeared out of nowhere, causing widespread panic in their ecosystem and community. Fear of exploitation or rug pulling caused their token price to plummet instantly. According to the charts, they fell by approximately 26% in 130 minutes, from $0.0394 USD to $0.0293 USD.

Fortunately, Gala Games quickly addressed the problem. Gala was not hacked in any way, according to their Twitter announcement. The strange behavior seen on PancakeSwap was carried out by pNetwork, according to Gala Game's blockchain president, Jason Brink. They are attempting to deplete the liquidity pool while protecting it from potential vulnerabilities. PNetwork also confirmed that it was a simple misconfiguration. It was a coordinated white hat attack, according to their tweet.

Gala Games has assured that all GALA tokens on Ethereum and the GALA bridge are safe for the time being. Furthermore, individuals who held pGALA before the pool was depleted will receive a new pGALA token. The team has currently notified users of their intention to temporarily suspend bridge transaction operations. They also advise users not to purchase pGALA on PancakeSwap at this time.

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