Gamee, a blockchain gaming project supported by Animoca Brands, has confirmed that its Gamee token (GMEE) contracts on Polygon experienced “unauthorized access” resulting in the theft of 600 million tokens. The incident occurred at around 6:31 p.m. UTC.
According to Gamee, its Polygon GMEE deployer address was compromised through unauthorized GitLab access, leading to a significant theft of tokens. The stolen tokens were converted to ETH and MATIC and had an estimated value of $15 million at the time.
Impact on GMEE Token Price
The exploit caused a decline in the price of the GMEE token, which dropped by 64% in the past 24 hours and fell below $0.01, as reported by CoinGecko data.
No Community-Owned Assets Compromised
Gamee clarified that only proprietary team token reserves were affected, and no community-owned assets were compromised. They assured users that all unauthorized access to the token contracts has been secured.
Supporting Impacted Users
Gamee stated that they would identify affected users and develop a plan to assist their loyal community during this challenging period.
Hot Take: Gamee Token Contracts Breached in Major Theft Incident
The Gamee token (GMEE) contracts on Polygon experienced unauthorized access, resulting in the theft of 600 million tokens valued at $15 million. This incident caused a significant drop in the GMEE token price. However, Gamee assured its users that no community-owned assets were compromised and pledged support for impacted users. It is crucial for blockchain projects to prioritize security measures to prevent unauthorized access and protect user assets.
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