PlayDapp, a Web3 gaming platform, succumbs to a $31M cyber attack

PlayDapp, a Web3 gaming platform, succumbs to a $31M cyber attack

Web3 Gaming Platform PlayDapp Experiences Major Hack

Yesterday, PlayDapp, a popular Web3 gaming platform, fell victim to a significant hack resulting in a potential loss of $31 million in assets. This incident has shed light on the urgent need to enhance security measures in the blockchain and cryptocurrency ecosystems.

Cyvers Alerts Detects Suspicious Transactions

Blockchain security platform Cyvers Alerts initially reported the hack before PlayDapp themselves confirmed the situation. According to Cyvers, they detected suspicious transactions involving PlayDapp. The deployer address of PlayDapp had been compromised by a malicious entity that added itself as an authorized minter on the platform.

The attacker proceeded to mint 200 million PLA tokens, equivalent to $31 million, taking advantage of this access. These tokens were then distributed across various addresses, with a significant portion being moved to the exchange.

PlayDapp Responds to Hack

Stay ahead in the crypto world with our newsletter!

Subscribe now for the latest updates, insights, and trends in the cryptocurrency market.

A few hours later, PlayDapp released a statement confirming the hack and reassuring users that they were taking immediate action. The company notified partner exchanges to suspend trading and address the unauthorized tokens. To safeguard their assets, PlayDapp transferred all PLA tokens to a new, secure wallet.

Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.

PlayDapp also reached out to the hacker, offering a reward for the return of the stolen assets. If the offer is rejected, PlayDapp intends to involve law enforcement agencies and hire a blockchain security firm to track down the hacker.

Author – Contributor at | Website

Cyrus Dailey stands as a luminary gracefully weaving the roles of crypto analyst, tenacious researcher, and editorial artisan into a captivating narrative of insight. Amidst the intricate world of digital currencies, Cyrus’s perspectives resonate like finely tuned melodies, captivating curious minds from a myriad of perspectives. Her ability to decipher complex threads of crypto intricacies melds seamlessly with her editorial finesse, transforming intricacy into a harmonious composition of understanding.

Subscribe to our Social Media for Exclusive Crypto News and Insights 24/7!

Email me the hottest Crypto news!

You may also like

Share via
Share via