🚨🚨🚨 GALA HACK 🚨🚨🚨
Web3 gaming platform Gala Games sees a 15% decline after losing over $200 million in potential revenue.
According to the blockchain explorer Etherscan, Gala Games, a web3 gaming company, appears to have fallen victim to an exploit on Monday, with someone minting 5 billion GALA tokens valued at about $206 million.
According to data from The Block's token price page, GALA, the platform's native token, fell over 15% after the incident, from $0.0467 at 3:00 p.m. ET (19:00 UTC) to $0.0397 at roughly 5:25 p.m. ET (21:25 UTC) on May 20.
The token's price decreased by 5.77% overall in the last day. With 40.6 billion shares in circulation, GALA retains a $1.7 billion market capitalization.
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