Gala Games Hacker Returns $23M in ETH; Founder Proposes 'Buy and Burn'

Tuesday, 21 May 2024, 16:14
The Gala Games hacker has returned $23M in ETH, sparking discussions around security and token governance. In response, the founder has proposed a 'buy and burn' strategy to manage market dynamics and restore investor confidence. Additionally, Gala investor DWF Labs' purchase of 28 million GALA tokens aims to stabilize the market and support the project's long-term growth. The proactive actions taken by stakeholders showcase a commitment to addressing vulnerabilities and ensuring the sustainability of the Gala ecosystem.
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Gala Games Hacker Returns $23M in ETH; Founder Proposes 'Buy and Burn'

Gala Games Hacker Refunds $23M in ETH

Gala investor DWF Labs revealed that the hacker has returned $23M in ETH that was stolen, which has led to discussions on the platform's security measures.

Founder Proposes 'Buy and Burn' Plan

The Gala Games founder has suggested a 'buy and burn' strategy to address market dynamics and enhance investor trust in the project.

  • DWF Labs Acquires 28 Million GALA Tokens: To reduce market selling pressures, DWF Labs purchased 28 million GALA tokens, signaling confidence in Gala's future.

The recent developments highlight the importance of security and governance in the blockchain ecosystem, with stakeholders taking proactive steps to safeguard user interests and ensure the sustainable growth of Gala Games.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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