Cryptocurrency gaming project Gala Games' token price fell sharply on Monday due to concerns surrounding a large transaction worth more than $200 million in $GALA tokens, which traders mistook for a hacker attack.
According to blockchain explorers, on the same day, an unknown participant created 5 billion $GALA tokens and sold them on the decentralized exchange Uniswap.
Representatives from Gala Games did not provide advance notice of the activity or provide an immediate explanation on the project's Discord server, raising fears of a possible hacker attack.
The price of $GALA fell to $0.039, down 19% from the day's high reached just an hour earlier.
