A recent incident saw an exploiter minting GALA tokens worth $200 million. The individual, identified as a security contractor, mistakenly connected their wallet without a VPN. Subsequently, they returned $22.3 million worth of GALA tokens in ETH, equivalent to 5913.2 Ether tokens and 600 million GALA tokens.

The exploit only sold a fraction of the tokens, as GALA swiftly froze the wallet and halted further token sales using GalaChain’s blocklist protocol. Within 45 minutes, almost 4.4 billion GALA tokens were frozen out of the 5 billion minted.

Gala Games has not disclosed the attacker's identity publicly, but Eric Schiermeyer, the company's CEO and Co-Founder, mentioned that they have identified the attacker's home address. They may consider buying back the portion and burning equivalent tokens using the returned ETH.

Gala plans to conduct a governance vote to decide whether to burn the 4.4 billion blocklisted GALA tokens.

Despite the security breach, GALA has seen a 5.68% increase in the last 24 hours, trading at $0.04416. The token has experienced a 9.93% surge in the last 7 days but a 12.65% decline in the last 30 days. The 24-hour trading volume has decreased by 23.21%.

This incident highlights the ongoing security challenges in the blockchain space, emphasizing the need for robust security measures to safeguard funds and data.

The governance vote will determine the fate of the frozen tokens, whether they will be burned or not.