Binance crypto exchange helped Gala Games find the main culprit behind the recent hacking incident.
Gala Games is a gaming platform that uses blockchain technology to let players truly own and control their in-game items. Founded in 2019 by Eric Schiermeyer, Gala Games supports games where in-game items and money are NFTs and cryptocurrencies. This means that players can own and trade these digital assets.
On May 20, 2024, we reported that Gala Games was being exploited, but later the GalaGames team successfully convinced the hacker to return 90% of the stolen money.
On May 27, 2024, the GalaGames team appreciated the role of the Binance team in getting involved in the recent hacking incident and providing support from the enforcement agencies to find the main culprit responsible for the entire misconduct.
Previously, Eric Schiermeyer, CEO of GalaGames, confirmed that they have enlisted the help of the US DOJ and the FBI to find the perpetrator.
Gala token price action
The current trading price of the Gala token is $0.043 and this trading price is down 1.1% in the last 24 hours.
Enforcement Agency Involvement in Crypto
It is worth noting that the involvement of enforcement agencies in crypto-related hacking incidents has increased rapidly in recent years and this shows that government agencies are not taking the crypto sector seriously.
We can also see that Binance, like the top crypto exchanges, is playing a better game against the bad crypto actors. In the past, the Binance intelligence team also helped many government agencies track crypto transactions and also showed direct involvement in illegal cryptocurrency transactions to find the perpetrators.
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