Gala Games Hacked, The PLA Suddenly Skyrocketed By More Than 250 Percent On Indodax

JAKARTA The game blockchain company Gala Games recently conveyed that its community should remain calm after the concern of hacking. As a result of these concerns, the price of GALA tokens has fallen by 25.6 percent. This condition sparked unrest on social media.

At the time, one wallet address appeared to have printed more than $2 billion in an unknown GALA token from where it came from. This unusual incident was previously marked by blockchain security firm PeckShield yesterday, November 3. At the peak of confusion, GALA dropped dramatically from $0.0394 to $0.0293 for 130 minutes, according to GoinGecko.

The Gala Games commented on the emergence of the pGALA token as well as explained the unusual activity as part of efforts to protect tokens from hacker attacks and reduce speculation of GALA's drop.

"We pay attention to the pGALA not being considered safe anymore and coordinating the white hat attack (hacker) to prevent pGALA from being badly exploited," wrote a statement from the Gala Games.

In addition, blockchain-based platforms also suggest printing new tokens to help pNetwork empty the damaged PancakeSwap pool. pNetwork also supports Gala Games' statement on Twitter, but also advises users not to do anything with the link or bridge for the time being.

Bridge GALA has been suspended for a while. All funds are safe, but please don't send funds to the bridge because the margins and pegout (redeems) are currently not being processed," wrote the latest statement from the official Twitter account of the Gala Games.

Gala also explained his plan to launch a new pool for users containing balances that amounted to the same as the previous pool. Gala developers said the new pGALA baga would be created to replace compromised old tokens and aired in the coming days to those with the pGALA before the pool was vacated.

According to a Coinpeaker report, the hacking of the Gala Games represents a broader repetitive problem in the crypto industry. Blockchain hacking is becoming increasingly common as the crypto industry is growing in popularity. There has been a wave of network breaches, especially in the decentralized finance space (DeFi), as criminals want to exploit this new technology.

pGALA on Indodax

In one of the leading crypto exchanges in Indonesia, Indodax, the pGALA token has increased by more than 280 percent in the last 24 hours. Commenting on the leakage of token security, Indodax regretted the incident.

We regret that the discovery of the pGALA security gap as well as the pGALA mint and dump action plan unilaterally and suddenly was not informed in advance to all centralized exchanges (including INDODAX), so THAT INDODAX was not given time to close the deposit feature prior to the incident. The closing step as a security measure was taken on the basis of the INDODAX initiative with the aim of protecting INDODAX members, in connection with suspicious activities against GALA transactions on the market, "wrote a statement on Indodax's official website.

The crypto exchange explained that the number of pGALA tokens resulting from internal hacking pNetwork entered Indodax massively. Therefore, Indodax changed the GALA ticker to pGALA because the value of the token was not proportional to GALA. The change is also intended to distinguish GALA from pGALA.

For members who buy, own or deposit GALA tokens to INDODAX before the incident occurs, will get GALA of the same value. Not affected by this incident," wrote the stock exchange statement.

“Tanggal snapshot insiden yang dimaksud ini adalah block #22745013, Nov-03–2022 jam 19:45 UTC time ( https://bscscan.com/block/22745013 ). Bagi member yang memiliki token pGALA di INDODAX pada 7 November 2022, pukul 15:00 WIB, akan mendapatkan airdrop kurang-lebih 0.00000109 BNB untuk setiap pGALA yang dimiliki saat snapshot sesuai dengan press release yang dikeluarkan oleh team GALA tersebut,” tambah keterangan dalam pengumuman Indodax.