Huobi HTX has completed the payment of tens of millions of dollars to users affected by the PGALA issuance attack

According to the official news of Huobi HTX, this week, Huobi HTX has completed the compensation of tens of millions of dollars to users affected by the pGALA issuance attack, including compensation, site rights, and Gala nodes. Huobi HTX has also destroyed the ROCK (formerly PGALA) tokens of the TRON network and re-minted them on the GALA chain. ROCK has become an indispensable part of the GALA ecosystem.

The two destruction links are as follows: https://tronscan.org/#/transaction/0dfea91f825a256f1abd02bf239e46b7c19a2713ce0a7ecc75c75e6d407943d8 https://tronscan.org/#/transaction/43f43358a0d97b3b2514de55e239f2100f57c475180217927b66dcc03dec182d

It is reported that the pGALA incident originated from the fact that pNetwork collaborated with hackers to issue a huge amount of pGALA worth 1 billion US dollars on the BSC chain by exploiting the cross-chain bridge vulnerability, and then sold and withdrawn it from the liquidity pool, with a cumulative profit estimated to exceed 10 million US dollars. Due to the sharp drop in the price of the currency on the chain and the malicious arbitrage of pNetwork deliberately concealing the information, many third parties including Gala Games and Huobi HTX suffered huge losses.

In April 2023, Huobi HTX announced that it had negotiated with Gala Games to complete a compensation plan for users affected by the pGALA issuance attack. The compensation amount reached tens of millions of US dollars, of which Huobi HTX provided tens of millions of US dollars in USDT and equity as compensation to the affected users; similarly, Gala Games will also provide the affected users with node compensation equivalent to 25 million US dollars. The above compensation plan has been completed this week.