GALA concert gaming token drops due to transfer of $200 million to suspect

Crypto project GALA Games' (GALA) native token fell sharply on Monday amid concerns over a massive transfer of more than $200 million worth of GALA tokens that traders feared was a hack.

An unknown party issued 5 billion GALA tokens on Monday and began selling them on decentralized exchange Uniswap, according to blockchain researchers.

GALA Games representatives had not previously announced this activity or provided a FAST explanation on the project's Discord server, raising concerns that the mass publication and sale was a hack.

GALA price then dropped to $0.039, down 19% from its daily high an hour ago. #galacoin