Coinbase Suspends PLA Token Trading After PlayDapp’s Smart Contract Suspension
Coinbase has temporarily suspended trading of the PLA token following the suspension of its smart contract by Web3 gaming platform PlayDapp. The suspension comes after PlayDapp experienced a security breach where a hacker minted over $200 million worth of PLA tokens. The token’s value has since plummeted, trading 0.4% lower at around $0.14.
PlayDapp Offers Reward for Asset Return
PlayDapp has acknowledged the hack and is taking steps to enhance its security measures. The platform has contacted the hacker and offered a reward for the return of compromised assets. If the offer is declined, PlayDapp will collaborate with law enforcement agencies and announce a public bounty.
Secondary Attack Mitigated
PlayDapp has temporarily suspended the PLA smart contract for migration purposes and has mitigated a secondary attack involving unauthorized minting of additional tokens. The platform communicated with exchanges to suspend deposits and withdrawals, freezing hacker wallets.
PlayDapp’s platform offers blockchain networks, game dApps, and a marketplace for trading characters and items. Coinbase regularly assesses tokens on its platform and has previously halted trading for several tokens.
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