GALA Token Price Struggles Amid $212 Million Hack, Solana Alternative Begins 10,000% Run

A
recent
breach
in
Gala
Games,
a
leading
blockchain
gaming
platform,
has
shaken
crypto
investors’
trust.
The
breach
led
to
a
significant
drop
in
GALA
token
value,
prompting
investors
to
explore
safer
and
more
dependable
investment
options.

In
the
wake
of
this
incident,

ETFSwap
(ETFS)
emerged,
gaining
traction
as
a
safer
alternative.
ETFSwap
(ETFS)
boasts
a
robust
security
platform
and
market
strength
that
has
drawn
the
attention
of
crypto
analysts
who
project
that
it
could
make
a
10,000%
run
in
this
market
cycle.

Gala
Games’
Security
Breach
Shakes
Ecosystem

On
May
20,
2024,
a
significant
security
breach
sent
shockwaves
through
the
Gala
Games
ecosystem.
Etherscan
data
revealed
unauthorized
minting
and
transfer
of
a
staggering
5,000,000,001
GALA
tokens,
amounting
to
roughly
$212
million.
However,
the
team
responded
swiftly.

Within
45
minutes,
they
reportedly
contained
the
breach
and
blacklisted
the
attacker’s
address,
effectively
minimizing
potential
losses
to
approximately
$21
million.
Several
hours
later,
on
May
21,
Gala
Games

issued
their
first
update
acknowledging
the
exploit.
“The
security
incident
involving
the
GALA
token
has
been
contained,
and
the
impacted
wallet
has
been
frozen,”
they
wrote,
emphasizing
the
incident’s
isolation
and
steps
already
taken
to
address
the
cause.

Additionally,
they
confirmed
active
collaboration
with
law
enforcement
to
identify
the
perpetrators.
Reiterating
their
commitment
to
security
and
transparency,
Gala
Games
pledged
to
provide
further
updates
throughout
the
investigation
and
take
“all
necessary
steps”
to
prevent
future
exploits.

While
the
initial
alert
lacked
details,
CEO
Eric
Schiermeyer
later
revealed
a
company
“internal
control
mess-up”
that
allowed
the
“unauthorized
sale
of
600
million
GALA”
and
the
burning
of
4.4
billion
tokens.
Despite
Gala
Games’
swift
action,
the
breach’s
impact
rippled
through
the
market,
causing
a
significant
drop
of
over
20%
in
the
GALA
token
price.

Solana
Alternative
ETFSwap
(ETFS)
Begins
10,000
Run

ETFSwap
(ETFS)
looks
to
be
the
perfect
project
for
GALA
investors,
given
how
safe
and
promising
the
ecosystem
is.
This
belief
stems
from
ETFSwap’s
modern
and
efficient
approach
toward
traditional
ETF
trading.
By
leveraging
tokenization,
the
platform
boasts
accelerated
transactions,
enhancing
speed,
cost-effectiveness,
and
efficiency
on
the
blockchain.
The
platform
also
offers
users
the
ability
to
purchase,
trade,
and
invest
in
a
wide
array
of
tokenized
assets,
including
fixed-income
funds,
commodity
ETFs,
and
leveraged
options.

ETFSwap
emphasizes
security
and
transparency;
the
platform
employs
blockchain
technology
to
ensure
secure,
transparent
trading
with
verifiable
transactions,
immutable
data,
and
decentralized
governance.
Moreover,
ETFSwap
eliminates
intermediaries
and
KYC
requirements,
delivering
a
seamless
user
experience.
To
further
enhance
user
safety,
Cyberscope,
a
reputable
blockchain
security
firm,
has

thoroughly
audited
the
platform’s
smart
contracts.
The
audit
revealed
no
flaws
in
the
project’s
security
and
underlying
infrastructure.

In
terms
of
maximizing
returns,
ETFSwap
offers
a
distinctive
50x
trade
leverage
feature
that
enables
seasoned
investors
to
maximize
their
profits.
This
is
in
addition
to
the
platform’s
native
token,
ETFS,
which
powers
the
ecosystem
and
facilitates
trading.
But
that’s
not
all.
The
platform
carries
the
promise
of
a
potential

10,000%
rally,
as
well
as
passive
income
from
staking
the
tokens.

With
the
amount
of
liquidity
expected
to
flow
into
the
industry
even
from
now,
crypto
experts
have
predicted
that
the
ETFS
token
can
make
a
10,000%
run
for
its
price
to
achieve
a
value
of
$1,
especially
given
its
potential
to
benefit
significantly
from
such
substantial
liquidity.

Crypto
investors
already
picked
up
on
this
bullish
narrative,
which
explains
why
over
70
million
ETFSwap
(ETFS)
tokens
have
been
sold
in
stage
1
of
the
token’s
presale.
Now
is
the
right
time
to
invest
in
the
ETFSwap,
as
each
token
is
currently
selling
for
an
affordable
$0.00854.

For
more
information
about
the
ETFS
Presale:

Visit
ETFSwap
Presale

Join
The
ETFSwap
Community