"All is well" - Gala Games calls for calm after fears of a multi-billion dollar hack

Gala Games said the unusual activity of its pGALA token was actually part of efforts to shield it from a potential attack.

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Blockchain gaming company Gala Games has urged its community to calm down after unwarranted fears of a multi-billion dollar rug draw or hack caused the GALA token to temporarily crash by 25 .6%.

The initial panic, which Gala Games later implied was unfounded, came after a single wallet address appeared to mint over $2 billion worth of GALA tokens from nothing - which was reported by blockchain security firm PeckShield on November 3.

Fears that the unusual activity was a sign of an exploit or a draw caused the price of the GALA token to drop 25.6% from $0.0394 to $0.0293 on a period of 130 minutes late on November 3, according to data from CoinGecko.

However, Gala Games took to Twitter on Nov. 4 to dispel the "FUD" surrounding its native token, explaining that "a lot of people use words like 'hack' and 'mat.' Neither the other is not."

Update for everyone - there is a LOT of FUD around $GALA...lots of people throwing around words like "hack " and " cover ". Neither is the case.

Here's the real story - read this update from @BitBenderBrink and @pNetworkDeFi. https://t.co/ruI16v2Lkv

— Gala Games - Spider Tanks is LIVE! (@GoGalaGames) November 4, 2022

Gala Games President for Blockchain Jason Brink explained that the unusual activity detected on e...