pNetwork responds to Huobi: Legal action will be taken against false accusations, with evidence to prove its innocence

ChainCatcher message, pNetwork responded to Huobi's accusation of "maliciously increasing GALA issuance" by strongly condemning Huobi's false claims against pNetwork. pNetwork will take appropriate legal action and has evidence proving that its actions were in good faith, and all actions were agreed upon in advance with GalaGames officials.

pNetwork further stated that Huobi received the notification at 7:24 PM UTC on Thursday (3:24 AM Beijing time on November 5) and confirmed the emergency two minutes later, but only blocked deposits several hours later. pNetwork did not gain any profit from this action.

It is reported that Huobi's official announcement mentioned that pNetwork had notified them in advance, but also stated that pNetwork did not explain its preparation to exploit vulnerabilities, nor did it mention that it would issue 55.6 billion GALA for a massive sell-off in the market within fifty minutes, which would cause extremely significant losses to innocent users and trading platforms. (source link)