Gala Games, a blockchain gaming company, has experienced another security breach. A rogue admin account issued approximately $200 million in $GALA tokens and systematically sold them. On-chain activities show that $200 million worth of tokens were traded for ETH.
These numerous security breaches underscore the need for robust security measures and the adoption of decentralized systems in the gaming industry to protect consumers and maintain trust.
Increased use of decentralized systems could help prevent such vulnerabilities. However, this is not Gala Games’ first security incident; in 2021, the platform suffered a $130 million loss when scammers used the official Gala Games X platform page to promote a bogus token migration event.
As of this writing, $GALA is trading at $0.04252, according to Coinmarketcap data.
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