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Gaming token gala is released amidst a suspected $200 million transfer
The native token of the crypto gaming project Gala Games (GALA) It fell sharply on Monday amid fears of a major transfer of GALA tokens worth more than $200 million that traders feared was a hack.
On Monday, an unknown party minted 5 billion Gala tokens and sold them on the decentralized exchange Uniswap, according to blockchain explorers.
Gala Games representatives had not previously announced the business or offered a quick explanation in the project’s Discord server, sparking fears that the mass minting and sale was a hack.
GALA’s price subsequently fell to $0.039, down 19% from the day’s high set just over an hour earlier.