Gaming Token Gala Stabilizes as Company Says Security Incident 'Contained'

The native token of crypto gaming project Gala Games (GALA) fell sharply Monday amid fears of a major transfer of over $200 million worth of GALA tokens that traders feared was a hack, and then recovered after the company said the security incident had been "contained and the impacted wallet has been frozen." On Monday, an unknown party minted 5 billion Gala tokens and proceeded to sell them on decentralized exchange Uniswap. Gala Games representatives had not previously announced the activity nor did they offer a quick explanation in the project's Discord server, spurring fears that the mass mint and sale was a hack.

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