News - Gala Games: Web3 platform victim of hack

By Ted Maas

Gala Games: Web3 platform victim of hack

Gala (GALA)
Metaverse
Web 3.0
Scams, crime and fraud

There has been an incident occurred at Gala Games that caused up to $200 million in damages. Hackers reportedly managed to hack into the Gala Games wallet.

The hackers allegedly stole five billion GALA worth US$200 million. As a result, GALA's price fell 15 percent. The Gala team has already responded to the incident. Those responsible wrote on the X platform that the Gala team had been able to plug the security breach. The affected wallet has since been frozen.

Nothing is yet known about the background of the hack. But, as blockchain developer "Quit" writes, the exploit could have been an inside job.

Gala's two founders have been at odds with each other since the summer of 2023. Eric Schiermeyer and Wright Thurston filed a lawsuit against each other in Utah District Court on Aug. 31. The case involves the alleged theft of Gala coins belonging to the company. The coins allegedly have a value of $130 million.

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