This time, we don’t play anymore. Friday, November 4, the concern of investors in the Gala Games crypto project went up a notch. Highly dubious transactions have been spotted on the blockchain ledger.
Very suspicious transactions
The alert was given during the day of November 3 by several people. On BscScan, we can see that 27 billion pGALA tokens have been minted (created) twice. The pGala corresponds to the GALA token, but on the Binance SmartChain (which can therefore be exchanged for Binance’s BNB). This corresponds to almost 2 billion dollars. Even more shady, these tokens were subsequently used to completely empty the pool liquidated on Pancaswap.
Gala is a cryptocurrency used in the various games of theGala Games ecosystem. It is used, for example, in Fortitudea game of tower defense blockchain-based. For a cryptocurrency still valued at more than $250 milliona security breach would be a major event.
False alarm for GALA cryptocurrency?
But is it fair to speak of rug sweater ? Dev team denies quickly the information that Gala would have been exposed to security breaches. So, who to believe in this story? In fact, there seems to have been a runaway around the news. Indeed, all this would be due to a bad configuration of the bridge p.Networkwhich ensured the GALA token its equivalent in pGala on the Binance SmartChain. This then required the redeployment of a new pGala network. The pNetwork developers have thus purged the pool on Pancakeswap. A priori, the former holders of the cryptocurrency will receive an airdrop of the token reset. However, due to this error, many users have lost their funds by interacting with the wrong pGala network.
Profiteers create the Baby Gala
The case will have allowedfeed a FUD more general around crypto projects. Moreover, some smart guys immediately took advantage of the case to create a new tokenthe Baby Gala. Available on the platform poocoin (which definitely lives up to its name), this crypto quickly attracted the most adventurous speculators, looking for quick money. Attention ! It is very risky to invest in this kind of hastily created project.
Will these few turbulences have a lasting impact on the price of the token and the confidence around the project? It will in any case be monitored.
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