The shocking incident involving a multi-billion dollar hack that caused the GALA token to plunge 25.6% has left investors jittery, but blockchain game company Gala Games has calmed its community by saying the situation is under control.
In relation to the incident, one of the wallet addresses was reported to have withdrawn over $2 billion GALA to blockchain security firm Peckshield on November 3.
The streak, the price of the GALA token decreased drastically to $0.0270 after the increase at the end of October reached the level of $0.0490, as investors worried about a rug pull or exploitation.
However, Gala Games has removed the "FUD"* through its Twitter social media platform after many individuals threw accusations such as 'hack' and 'rug' against it even though they denied the matter.
*tactics used to manipulate public opinion about a particular cryptocurrency or the crypto market in general by spreading untrue, inaccurate or misleading information
According to Jason Brink, President of Gala Games, pNetwork has made unusual transactions on PancakeSwap's decentralized exchange (DEX) to drain the liquidity pool.
He added that Gala Games uses pNetwork, which is a cross-chain interoperability bridge** that will identify if there is an error.
**Lock or burn tokens on the source chain via a smart contract and unlock or print tokens via another smart contract on the destination chain.
Clarified further, Gala Games and pNetwork will temporarily stop any transaction on the bridge and insist that the digital asset is safe.
Even so, Brink warned investors not to buy pGALA on PancakeSwap at this time as it will replace the old compromised token.
