Gala Says Hacker Has Returned Over $20,000,000, Plans To Reimburse Users Affected by the Exploit

Gala Says Hacker Has Returned Over $20,000,000, Plans To Reimburse Users Affected by the Exploit

Blockchain-based gaming platform Gala (GALA) says it recovered over $20 million worth of crypto assets that were stolen during a security breach earlier this week.

In a statement, Gala says that a hacker initiated a transfer of $200 million in Gala tokens on May 20th, but the monitoring system flagged the suspicious activity, which allowed the platform to freeze the tokens and blocklist the unauthorized wallet.

“This was an isolated incident on the Ethereum network, and our immediate response was to activate GalaChain’s blocklist protocol, swiftly halting any further unauthorized minting and movement of GALA and effectively mitigating the incident.”

The platform says 90% of the illicitly minted GALA have been locked and a new Founder’s Node ecosystem governance vote will decide if the blocklisted tokens will be considered burned.

“We want to assure our community that the minting capabilities of GALA on GalaChain remain secure and uncompromised. Our internal controls and multi-sig security protocols are designed to protect against such incidents, and we are continuously enhancing them to stay ahead of potential threats.”

Gala credits its security team’s swift response and the involvement of law enforcement agencies in the return of the stolen crypto assets. The platform says it will also reimburse users who were affected by the exploit.

“Plans are already in place to make reimbursements to anyone who has been subjected to unreasonably high transactional fees associated with this incident.”

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