Crypto investors experience both wonderful and nightmarish times at the same time. There is a generally good atmosphere in the market. But a popular cryptocurrency was poised for a double-digit rise when it suddenly crashed. This is because $200 million of GALA Coin was lost as a result of a hacking attack.

Blockchain researchers reported on Monday that an unidentified entity created 5 billion Gala tokens and then sold them on the decentralized exchange Uniswap.

On-chain movements indicate that GALA Coin was seized and $200 million worth of tokens were sold for ETH. The popular cryptocurrency rose to $0.048 and then dropped very quickly to $0.0395. What terrible timing! GALA Coin, which rose 8% as the market-wide rally rose on ETH ETF approval rumors, fell more than 7%, showing a double-digit loss.

The team has not yet provided a logical explanation for this on-chain movement. The loss of $200 million is reported as breaking news by many sources. If the team confirms this in the next few minutes, we may see GALA Coin sales accelerate. Investors are advised to be careful about possible sudden declines and larger losses.

Note: This article does not contain any investment advice.$GALA #hack $ETH #BinanceHerYerde