ChainCatcher news, the Web3 game project Gala Games has formed a partnership with Animoca Brands, which will receive GALA tokens from the Gala Games treasury to provide liquidity provisioning services for Gala Games.Animoca Brands is currently the operator of 9 Gala Founder's Nodes and plans to act as a GalaChain validator in the future.

ChainCatcher news, the blockchain game Gala Games announced on social media that it has burned approximately 1 billion GALA tokens.ChainCatcher previously reported that Gala Games stated on the X platform that the stolen funds from a recent security incident have been recovered. The team will use GalaSwap to convert ETH back to GALA.

ChainCatcher message, the Gala community has initiated a governance proposal regarding the "temporary GALA token contract upgrade and token burn."The proposal states that, in light of recent security incidents that led to the unauthorized minting and sale of approximately 600 million GALA tokens, as well as the permanent locking of about 4.4 billion tokens, this proposal aims to formally burn approximately 4.4 billion GALA tokens, along with about 600 million GALA tokens from the GALA treasury, to ensure the stability and sustainability of the ecosystem.Due to the upgradable nature of the GALA contract, the proposed changes will not require exchanges to conduct swaps or relist, and can be executed without affecting all GALA token users.It is reported that this move will involve upgrading the GALA contract, including the explicit and irreversible destruction of the same amount of unauthorized tokens or tokens deemed illegally obtained by law enforcement, and enhancing the security features of the contract to prevent future unauthorized access or breaches.

ChainCatcher news, Gala Games stated on X that the security incident involving the GALA token has been contained, and the affected wallets have been frozen. This is an isolated incident, and the cause has been addressed. The team is working closely with law enforcement to investigate the perpetrators. As the investigation continues, the official will provide updates and take all necessary measures to prevent similar incidents in the future.Previous news, according to The Block, the Web3 gaming platform Gala Games was reportedly hacked, with hackers minting tokens worth $200 million.

According to ChainCatcher news, the Web3 entertainment company Gala has officially launched GalaSwap on the first GalaChain. It is reported that the platform can process 2 million transactions per second, supported by a network of over 43,000 secure nodes, ensuring fast transaction processing and enhancing the speed of asset trading.In addition, GalaSwap will incentivize community growth through trading rewards in GalaSwap tokens and a referral program, rewarding users for bringing in new participants. The platform offers token trading capabilities for various Ethereum-based assets and will unlock NFT trading in the upcoming Version 2 update, initially focusing on Gala-specific products, with plans to support broader compatibility in the future.Currently, influenced by the positive news, Gala has surpassed $0.4, with a 24-hour increase of over 22%.

ChainCatcher news, according to X-explore, due to contract changes, there is a "fake recharge" risk for GALA on CEX. On September 6, hackers exploited this vulnerability and withdrew all GALA worth 2.7 ETH from Coinhub.According to analysis, the token GALA of Gala Game underwent a significant upgrade on May 15, 2023, updating the token contract address. As a result, there are now two types of tokens in circulation, both called GALA, with the price ratio of the old Gala to the normal Gala being 1:12. Attackers have been using the old Gala token to recharge on various exchanges since July 27 of this year to test the fake recharge.Meanwhile, the hackers were also involved in the LDO "fake recharge" incident and the Nomad Bridge attack in August last year. On September 6, the hackers recharged the old GALA token to CoinHub, successfully making the exchange treat the recharged old GALA as normal Gala tokens. Subsequently, the hacker withdrew real Gala, leaving only $168 worth of Gala in the exchange's hot wallet, and the hacker earned 2.7 ETH.Previously, Slow Mist disclosed that the LDO token contract had a potential "fake recharge" risk, to which Lido responded that the risk was within expectations, and both LDO and stETH remain safe.

ChainCatcher news, according to CoinDesk, after the blockchain-based gaming platform Gala Games deleted tweets about collaborations with Hollywood stars, its native token GALA dropped over 20% to $0.039.Previously, ChainCatcher reported that Gala Games announced on Twitter on January 9 that it was working on two films in collaboration with Dwayne Johnson and Mark Wahlberg, who starred in the Transformers series. GALA surged over 70% to $0.051, marking its highest level since September 13. (Source link)

ChainCatcher news, Huobi has released a notification regarding the re-minting of the PGALA Token on the TRON network: Due to the pGALA Token contract using a Transparent Proxy model, and the owner private key of the pGALA proxy contract being leaked on Github, the contract configuration permissions have been lost, putting the pGALA contract at risk of being attacked at any time, posing a significant security threat.To protect the interests of PGALA holders on the platform, Huobi Global has decided to use the total amount of pGALA actually held by platform users: 6,211,014,582.57982347 as the total issuance, to re-mint a 100% decentralized, 100% circulating PGALA Meme Token (PGALA) on the TRON network, with the new contract address: TF7Ncj2PwKYxVthJaCZCRS98XgnXhJ347h.Once the contract replacement is completed, the deposit and withdrawal of PGALA will open on 2022-11-07 23:00:00 (GMT +8), and the tax burning mechanism will remain unaffected. Subsequent destructions will also be carried out on the new contract, with the destruction address being: T9yD14Nj9j7xAB4dbGeiX9h8unkKHxuWwb. Other trading platforms in the industry are welcome to support the trading and jointly destroy PGALA.

ChainCatcher news, Sun Yuchen stated that, first, the joint project party will compensate 100% of all GALA real coin holders on the Huobi platform, with a one-to-one rigid redemption, totaling over 55 million GALA in compensation, and will reopen GALA token trading, deposits, and withdrawals on the Huobi platform to restore normal order.Secondly, according to the clues of the deposit of fake GALA coins into the platform, they will track down the attackers' illegal accounts.Thirdly, to maximize the protection of platform users' interests, the PGALA token will be launched with built-in burning mining, and all transaction fees from PGALA will be used to buy back and destroy PGALA continuously to empower.Fourthly, with due diligence, Huobi will launch a bounty program with a scale of 1 million USD to reward those who actively return profits gained from exploiting this vulnerability and have withdrawn their earnings from the platform. For malicious attackers who refuse to return, Huobi will collect evidence and collaborate with global partners to take all necessary measures for recovery. (source link)