PlayDapp Experiences $32 Million PLA Token Exploitation Following Security Breach

PlayDapp Experiences $32 Million PLA Token Exploitation Following Security Breach

PlayDapp Experiences Security Breach with $32 Million PLA Token

The web3 gaming platform PlayDapp recently fell victim to a major security breach, resulting in the unauthorized issuance of 200 million PLA tokens. Blockchain security and analytics firm PeckShield Inc. discovered the breach on February 10th and promptly alerted PlayDapp about the exploit. PeckShield noted that new PLA tokens had been minted due to a private key leak.

Security Measures and Hacker Negotiations at PlayDapp

In response to the breach, PlayDapp confirmed the hack on the same day and took immediate action to restore security. They transferred all PlayDapp-held PLA tokens to a newly secured wallet and reached out to the hacker through an on-chain message, proposing a reward for returning the stolen contracts and assets. Failure to comply would result in collaboration with law enforcement agencies.

Community Skepticism and PLA Token’s Decline

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However, community members expressed skepticism about PlayDapp’s reaction. Some users claimed that the hacker had already sold most of the stolen coins through various platforms. As a result of the exploit, the value of PLA tokens experienced a sharp decline, dropping by 16% within 24 hours. Currently, it is trading at 13.89% lower than its value a week ago.

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