The GALA Games Legal Brawl
There is a legal battle happening within the Gala Games ecosystem between co-founders Eric Schiermeyer and Wright Thurston. Eric has filed a lawsuit against Thurston and his company, True North United Investments, LLC, accusing them of stealing over 8.6 billion GALA tokens from the company.
Main Breakdowns:
– Eric Schiermeyer is suing Wright Thurston and True North United Investments, LLC for stealing GALA tokens.
– Thurston is accused of engaging in deceptive transactions to move, exchange, or sell the stolen tokens.
– The lawsuit highlights the need for comprehensive regulation in the Web3.0 industry.
– Gala Games has previously faced challenges with market regulators in relation to Thurston and True North’s involvement in the Green Boxes crypto project.
– The lawsuit demands compensation for damages and the removal of Thurston as a director of the company.
Essence of the GALA Games Native Token
Gala Games is a fully functional gaming platform in the Web3.0 world that utilizes the GALA token for in-game purchases and exchanges between players. The lawsuit has negatively affected the price of GALA, which is currently at $0.0171, down 8% in the past 24 hours.
Hot Take
The legal battle within the Gala Games ecosystem raises concerns about trust and transparency in the crypto industry. It highlights the need for stricter regulations to protect investors and prevent fraudulent activities. This case serves as a reminder that due diligence is crucial when investing in crypto projects.
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