An Exploit Leads to Loss of Millions Worth of PLA Token on PlayDapp Crypto Gaming Platform
An exploit on the crypto gaming platform PlayDapp has resulted in the loss of millions worth of the PLA token, according to blockchain analytics firm Elliptic. The unauthorized wallet, likely a result of a compromised private key, minted 200 million PLA tokens worth $36.5 million on February 9. PlayDapp attempted to negotiate with the hacker to return the stolen funds but was unsuccessful. Instead, the hacker minted an additional 1.59 billion PLA tokens valued at $253.9 million and began laundering the funds through crypto exchanges.
Paused Smart Contracts
On February 13, PlayDapp announced that it had paused the PLA smart contract to conduct a snapshot for migration. It requested the halt of transactions to protect holders’ assets and assured the community that it is working with crypto exchanges, forensic firms, and law enforcement. PlayDapp is also tracking minted and swapped tokens and exploring migration solutions such as an airdrop. As of February 13, the PLA token was trading at $0.15, a decrease of 2.9% over the last 24 hours.
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