Gala Games Hit by Major Security Breach of Over $200 Million
On May 20, 2024, Gala Games, a leading blockchain gaming project, faced a major security breach. An unknown attacker exploited the platform, minting 5 billion GALA tokens worth about $214 million at the time. This event went on to shock the cryptocurrency as well as blockchain gaming communities, revealing the vulnerabilities in decentralized systems. Looking Back at the Exploit Solidity developer 0xquit reported that the attacker used an admin address to mint the tokens. This indicates that the exploit could have been the work of an external hacker or someone with internal access. The attacker had the potential to mint up to 12 billion more tokens. However, their actions were halted when the compromised address was blacklisted. To continue, the attacker would need access to another admin address. A compromised or rogue Gala Games admin address minted 5 Billion $ GALA ($200M) and has been systematically selling the tokens for the past 2 hours. This is why decentralization ...