The blockchain gaming platform PlayDapp suffered a $31 million loss as hackers infiltrated its systems.
This alarming incident underscores the pressing need for heightened security protocols within the cryptocurrency market.
Blockchain Game App Hacked
Web3 security firm Cyvers confirmed that attackers managed to add their address as a minter on PlayDapp. Subsequently minting 200 million PLA tokens valued at approximately $31 million.
These ill-gotten gains were quickly dispersed to various addresses, with a notable $5.9 million worth of the stolen PLA tokens being moved to the crypto exchange Gate.io.
PlayDapp, in a recent statement, highlighted the severity of the breach and outlined immediate steps to mitigate the damage. The company has alerted all partner exchanges, urging them to halt trading to prevent the circulation of the unauthorized tokens.
Read more: Crypto Project Security: A Guide to Early Threat Detection
In an effort to control the situation, PlayDapp also announced the transfer of all PlayDapp-held PLA to a new, secure wallet, encompassing both locked and unlocked holdings. This move aims to shield PLA assets from further risk.
“We have contacted the hacker directly through an on-chain message and made an offer for a reward for the immediate return of all stolen contracts and assets. Failure to accept this offer will prompt us to quickly work with the FBI and law enforcement agencies in the pursuit of the hacker,” PlayDapp said.
Following the hack of the blockchain game app PlayDapp, PLA, its native token, suffered a significant price correction. It went from trading at $0.18 to $0.16, representing a 12.23% downswing.
The incident underscores the vulnerabilities in the blockchain and cryptocurrency sectors. It spotlights the need for enhanced security measures to protect investors’ assets.
As the situation unfolds, PlayDapp has called for the community’s cooperation. It also advised against the spread of misinformation and to seek updates directly from official channels.
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