Gala Games’ CEO attributes a recent security breach, which led to a hacker stealing and selling $23 million worth of its GALA token, to “messed up” internal controls. On May 20 at 7:32 pm UTC, blockchain analysts noticed that 5 billion GALA tokens, valued at $200 million at the time, were minted. The responsible wallet sold these tokens in batches. The breach caused GALA’s price to plummet by 20%, hitting a 24-hour low of $0.038. However, the price has since rebounded slightly to $0.041, according to CoinGecko. “We had an incident that resulted in the unauthorized SALE of 600 million
