GAMEE, a blockchain gaming platform, experienced a security breach of its $GMEE token contracts on the Polygon network. This incident resulted in unauthorized access and theft of GAMEE tokens from the platform’s own token reserves.
The security breach occurred on January 22 at 6:31 PM (UTC) when the Polygon $GMEE deployment address was compromised due to unauthorized access to GitLab. As a result, 600 million $GMEE tokens were stolen and converted into ETH and MATIC. The exploit only affected the team’s own token reserves, leaving community-owned assets untapped. At the time of the incident, the value of the affected tokens was approximately $15 million.
GAMEE Token theft response
The GAMEE team immediately secured ownership of the token contract and associated contracts by transferring them to a new, secure address. As part of the ongoing response, GAMEE has temporarily suspended liquidity provision for everyone decentralized exchanges (DEXs) and centralized exchanges (CEXs) with $GMEE markets to disable deposits and freeze tokens linked to the hack.
In addition to taking the necessary technical measures, GAMEE works closely with law enforcement authorities to take legal action against the exploiters. The team is committed to holding perpetrators accountable for their actions and ensuring justice.
The unauthorized transactions and subsequent price volatility have impacted the GAMEE community. To support those affected, GAMEE plans to identify affected users and explore various support options during this challenging period.
Given the recent security breach, GAMEE urges caution in the current volatile market conditions. The platform advises its users to be aware of potential liquidity impacts due to measures implemented by CEXs. The team also emphasizes its commitment to maintaining trust and transparency with its community. The team promises to provide real-time updates on the situation within 48 hours and share a detailed update on next steps.
GAMEE, backed by Animoca Brands, is a blockchain gaming platform that allows players to earn cryptocurrency rewards through engaging games. The platform’s native cryptocurrency, GMEE, is an integral part of several platform activities.
It is important to note that this incident did not impact community-owned assets. The GAMEE team is taking all necessary steps to rectify the situation and ensure the safety of its users’ funds. As a precautionary measure following the GAMEE token theft, users should exercise caution in the current volatile market conditions and stay informed via official updates from GAMEE.