NFT Evening NFT Evening
    Facebook Twitter Instagram Reddit
    NFT Evening NFT Evening
    • News
      • Collectibles
      • Crypto Art
      • Blockchain games
      • Metaverse
      • Music
      • Interviews
    • Guides
      • Top NFT Projects
      • Top Blockchain Games
      • NFT Marketplaces and Tools
    • Learn here!
      • What is an NFT?
      • How to keep your NFTs safe
      • NFT Glossary
    • NFT Calendar
      • NFT Drops
      • NFT Conferences
    • Newsletter
    NFT Evening NFT Evening
    Blockchain games

    Home » News » Blockchain games » Gala Games Hack Turns Out To Be Fabricated!

    Gala Games Hack Turns Out To Be Fabricated!

    By Michael IversonNovember 13, 2022Updated:November 15, 20223 Mins Read
    Contents hide
    So, GALA Games didn’t fall victim to a Hack?
    Are Gamers Safe?
    Can you trade GALA?
    Why Did Huobi Delist?
    The Official Response to the suspected Gala Games Hack?

    Is Gala Games hacked? Apparently not. In fact, the blockchain gaming company Tweeted to debunk the “FUD” surrounding the decline of their native coin, GALA. While the community worried that a hack or rugpull was the cause for a 90% price drop, Gala Games assured the public that “neither of these is the case.” So, what is happening with Gala Games, and are gamers safe?

    Gala Games users carrying objects like a bicycle and cube. They are working on building a small town square.
    Gala Games has announced that they did not suffer from a hack or rug pull. Image Credit: Gala Games.

    So, GALA Games didn’t fall victim to a Hack?

    Actually, no. As a matter of fact, Gala Games was not hacked. Instead, the drop in price started when PeckShield, a Blockchain security firm, noticed around $1 billion GALA minted by a single wallet. They alerted Gala Games via Twitter that the problem came from a “misconfiguration” with pNetwork, a platform that allows cross-chain operability.

    Essentially, Gala Games partners with Polygon to use the pNetwork. Ideally, the deal allows users to trade their assets with low gas fees. However, the bridge became faulty, creating a lot of coins at once. As a result, people feared that a hack was underway. pNetwork responded, saying that “pGALA wasn’t to be considered safe anymore.”  Then, pNetwork led a white hat hack, preventing pGALA from becoming “maliciously exploited.”

    Are Gamers Safe?

    Jason Brink, Gala Game’s President for Blockchain, assured users by tweeting “Everything is fine. The activity you have been seeing on @PancakeSwap is pNetwork working to drain the liquidity pool.”

    Accordingly, the white hat hack happened to protect user assets. As stated by the pNetwork, it is necessary to redeploy pGALA. For this reason, pNetwork drained the pool of pGALA on PancakeSwap. Therefore, users should not buy or sell on PancakeSwap for the time being. According to pNetwork, “Funds are safe but users should NOT transfer or buy/sell pGALA on pancakeswap.”

    Jason Brink of Gala Games echoed the same sentiment when he Tweeted, “Do not buy $pGALA on PancakeSwap for now.”

    A game by Gala Games in which different teams are fighting for a fortress. There is fire and blue munitions being shot at the tower.
    pNetwork and Gala Games have advised players not to trade on PancakeSwap. Image Credit: Gala Games.

    Can you trade GALA?

    In temporary measures, moderators suspended the GALA bridge. While moderators have paused redemption processing, GALA has informed the community that funds are safe.

    Not to mention, pNetwork will be airdropping an uncompromised GALA token to users in the next few days to replace the previous one. This, according to pNetwork will arrive “in the coming days to those who had pGALA before the pool was drained.” As such, GALA has advised users not to transact with pGALA until they have new tokens in hand.

    Why Did Huobi Delist?

    To begin with, Huobi detected high activity in token exchanges. This was early on in the event, later dubbed a misconfiguration. Still, due to the sudden uptick and fear of a Gala Games hack, the price of GALA dropped by as much as 90%. Huobi delisted GALA soon after.

    An advertisement for Gala Games featuring a western scene. There is a train to the left, three cowboys on horses in the center, and a man parachuting into the scene on the right. There is dust and orange light.
    False reports of a hack sent GALA crashing by up to 90% on some exchanges. Image Credit: Gala Games.

    The Official Response to the suspected Gala Games Hack?

    Gala Games wants everyone to know that this was not a hack. For now, players are advised not to buy GALA with PancakeSwap and to wait for the airdrop of new pGALA tokens. Furthermore, administrators have suspended the pNetwork bridge until further notice.

    Join Our New "To The Moon" daily Newsletter

    Get our free, 5 minutes daily newsletter. Join 25,000+ NFT enthusiasts & stay on top 👊🌚

    Thank you!

    You have successfully joined our subscriber list.

    .

     


    All investment/financial opinions expressed by NFTevening.com are not recommendations.

    This article is educational material.

    As always, make your own research prior to making any kind of investment.

    blockchain gameGala Games
    Previous ArticleRarity League Returns With Exclusive NFL-licensed NFT Collection
    Next Article Apecoin DAO To Provide Meebits With Apecoin Microgrants
    Michael Iverson
    • Twitter
    • LinkedIn

    Michael is a salesperson for nSure.ai by day and a writer for NFTEvening.com by night. He loves tech, startup culture, and the growing Web3 community.

    More great NFT Evening content:

    Splinterlands Reveals Plans for Land Gameplay

    March 20, 2023

    Zebedee & Fumb Games Celebrate 1M “Bitcoin Miner” Players

    March 14, 2023

    Join the race: NASCAR takes on Roblox

    March 11, 2023

    Web3 Gaming Studio by Electronic Arts Founder Trip Hawkins Goes Live on Seedify

    March 10, 2023

    Illuvium: Beyond Launches Adventure Collectible Card Game on ImmutableX

    March 8, 2023

    Bear Hug Entertainment and ZEBEDEE are Bringing Bitcoin Rewards to Mobile Gaming

    March 7, 2023

    Shrapnel Aims to Become a Leading Blockchain Game

    February 28, 2023

    Genopets New Mini-Games Guarantee a Paw-some Time

    February 26, 2023
    Latest NFT News

    Zora Now Lets Creators Create Their Own NFT Contracts

    March 21, 2023

    CribX Join Forces With Polygon Labs to Create Virtual eXperiences Across the Metaverse

    March 21, 2023

    Kongregate to Bring Exclusive Bitverse Gaming Experience to The Sandbox

    March 21, 2023

    Zebedee & Dubzz To Bring Bitcoin-Powered Fortnite Tournaments

    March 21, 2023

    Dr.Death NFTs Enroll You To The Web3 Mystery School

    March 21, 2023

    Limited-time Band of the Wolf Set for Gods Unchained Launching in March

    March 20, 2023

    Microsoft Edge Hops on the NFT Bandwagon with Built-In Wallet

    March 20, 2023

    Spatial Empowers Creators with Easy-to-Use Toolkit for Building Games and Stories

    March 20, 2023
    Get The FREE Exclusive Report
    CLICK HERE

    NFTevening is the biggest website for NFT news. We cover; breaking news, upcoming mints, plus, interviews with top NFT artists and projects. Put simply, we are the best place for new and experienced non-fungible token fans — making content fun & accessible

    Privacy policy
    Terms and conditions

    Article Categories
    • Blockchain games
    • Collectibles
    • Columns
    • Crypto Art
    • Guides
    • Interviews
    • Metaverse
    • Music
    • News
    • NFT Marketplaces and Tools
    • Sponsored Content
    • Top Blockchain Games
    • Top NFT Projects
    NFT Calendar
    • Today’s NFT Drops
    • Upcoming NFT Drops
    • Solana NFT Drops
    • NFT Calendar
    • NFT Calendar : Add Your NFT Event
    Get In Touch
    • Advertise (Media Kit)
    • Job Opportunities
    • About Us
    • Contact Us
    • Newsletter
    NFT Beginners Guides
    • How to Sell NFT Art
    • How to Create NFT Art
    • How to Display NFT Art
    • How To Make Passive Income With NFTs
    • Best Crypto Wallet
    • Best NFT Coins
    • Best NFT Rarity Tools
    • What is a DAO ?
    • What Are Crypto Gas Fees ?

    Type above and press Enter to search. Press Esc to cancel.