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$0.0000279 -0.85124
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Bitcoin
Bitcoin (BTC)
$101,371.00 1.11599
Bitcoin price
Ethereum
Ethereum (ETH)
$3,880.47 -0.90876
Ethereum price
BNB
BNB (BNB)
$715.87 -0.38704
BNB price
Solana
Solana (SOL)
$222.96 -1.22876
Solana price
XRP
XRP (XRP)
$2.42 1.76634
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000279 -0.85124
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Pepe
Pepe (PEPE)
$0.0000239 0.8318
Pepe price
Bonk
Bonk (BONK)
$0.0000375 -2.83503
Bonk price
dogwifhat
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$2.89 -1.37835
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Popcat
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$1.15 -6.38572
Popcat price
Bitcoin
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$101,371.00 1.11599
Bitcoin price
Ethereum
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$3,880.47 -0.90876
Ethereum price
BNB
BNB (BNB)
$715.87 -0.38704
BNB price
Solana
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$222.96 -1.22876
Solana price
XRP
XRP (XRP)
$2.42 1.76634
XRP price
Shiba Inu
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$0.0000279 -0.85124
Shiba Inu price
Pepe
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$0.0000239 0.8318
Pepe price
Bonk
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$0.0000375 -2.83503
Bonk price
dogwifhat
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$2.89 -1.37835
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Popcat
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$1.15 -6.38572
Popcat price
Bitcoin
Bitcoin (BTC)
$101,371.00 1.11599
Bitcoin price
Ethereum
Ethereum (ETH)
$3,880.47 -0.90876
Ethereum price
BNB
BNB (BNB)
$715.87 -0.38704
BNB price
Solana
Solana (SOL)
$222.96 -1.22876
Solana price
XRP
XRP (XRP)
$2.42 1.76634
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000279 -0.85124
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000239 0.8318
Pepe price
Bonk
Bonk (BONK)
$0.0000375 -2.83503
Bonk price
dogwifhat
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$2.89 -1.37835
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Popcat
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$1.15 -6.38572
Popcat price

GALA rockets after incident recovery, token burning proposal

gala-rockets-after-incident-recovery-token-burning-proposal
Edited by
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GALA rockets after incident recovery, token burning proposal

Gala Games’ token, GALA, was a top gainer on Wednesday after funds from a recent security incident have been recovered and proposed to burn for the token’s stability.

The GALA price surge comes after it released a report about the hack. The report credits the security team’s effective response and the involvement of Federal law enforcement agencies. It said more than $20 million in Ethereum (ETH) was returned to the ecosystem.

Specifically, the team noticed a suspicious transfer of $200 million woth of GALA tokens, but within 45 minutes all tokens in the unauthorized wallet were frozen. The team stopped additional unauthorized minting and movement of GALA, effectively mitigating the incident.

Around 90% of the minted GALA was locked shortly after this event.

To deal with the security incident, the organization has proposed burning 4.4 billion GALA tokens, along with 600 million from the central Gala Treasury, to ensure the stability of the ecosystem. The 5 billion GALA will be permanently burned from circulation by sending them to a burn address.

According to CoinMarketCap, GALA’s price surged 20.6% to a peak of $0.04969 at 6:25 AM EDT. It currently sits at $0.04736, with a market capitalization increase of 6% to $1.67 billion and a 24% decrease in trading volume over the past 24 hours.

GALA rockets after incident recovery, token burning proposal - 1
24-hour price of GALA from CoinMarketCap