Gala Games suffers $21 million hack

Someone was able to mint 5 billion $GALA tokens, the native token of the Gala Games blockchain gaming project. The tokens would be notionally worth around $200 million based on their paper value, although such a massive amount wouldn't be sellable without impacting the token price. Furthermore, the Gala Games team was able to add the attacker's address to a blocklist shortly after the theft a few hours after the attack began, preventing them from swapping more of the tokens.

Altogether, the attacker was able to swap around $21 million of the GALA tokens into ETH before the address was frozen.

The attacker was able to perform the exploit because they had access to a wallet with admin access to the Gala Games smart contract. It's not clear if the attacker is a rogue employee, or if an admin wallet was compromised.

As of writing, Gala Games has not publicly acknowledged the attack.