Gala Games Token Crashes 25% Due to Fears of Multimillion-Dollar Hack

The price of the P2E token of Gala Games has lost about 25.6% amid fears of hacking or fraud. The team behind the project has assured that “everything is under control.”

The panic, which Gala Games called unfounded, came after a single blockchain address issued more than 2 billion GALA tokens, according to PeckShield’s attention.

In about two hours, the asset’s quote fell from $0.0394 to $0.0293. The coin has a capitalization of approximately $263 million.

According to the project devs:

“An update for everyone – there is a lot of FUD around GALA… A lot of people are throwing around words like ‘hack’ and ‘scam’. Neither is true.”

The company’s blockchain president Jason Brick has explained the developers of the pNetwork protocol are behind the unorthodox token activity discovered on DEX PancakeSwap.