An unknown attacker exploited the blockchain gaming project Gala Games on May 20 for approximately $200 million, according to reports.
Solidity developer 0xquit said the attacker minted 5 billion GALA tokens through an admin address, noting that an external hacker or rogue address owner could be responsible.
0xquit stated that the attacker can mint 12 billion more tokens before reaching a cap. However, the exploited address is blocklisted, meaning that the attacker must gain access to another admin address before stealing or minting more tokens.
The relevant transaction is reflected on Etherscan. Gala Games has not yet commented.
Price down
Molly White of Web3 Is Going Great argued that the actual value of the attack is lower, as the attacker only swapped $21 million worth of GALA tokens to ETH before the address was frozen.
White added that the attacker cannot sell the tokens without severely impacting the price.
The latest incident has corresponded with rapid losses for the GALA toke
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