NewsPress Release

GALA Token Price Struggles Amid $212 Million Hack, Solana Alternative Begins 10,000% Run

A recent breach in Gala Games, a leading blockchain gaming platform, has shaken crypto investors’ trust. The breach led to a significant drop in GALA token value, prompting investors to explore safer and more dependable investment options.

In the wake of this incident, ETFSwap (ETFS) emerged, gaining traction as a safer alternative. ETFSwap (ETFS) boasts a robust security platform and market strength that has drawn the attention of crypto analysts who project that it could make a 10,000% run in this market cycle.

Gala Games’ Security Breach Shakes Ecosystem

On May 20, 2024, a significant security breach sent shockwaves through the Gala Games ecosystem. Etherscan data revealed unauthorized minting and transfer of a staggering 5,000,000,001 GALA tokens, amounting to roughly $212 million. However, the team responded swiftly.

Within 45 minutes, they reportedly contained the breach and blacklisted the attacker’s address, effectively minimizing potential losses to approximately $21 million. Several hours later, on May 21, Gala Games issued their first update acknowledging the exploit. “The security incident involving the GALA token has been contained, and the impacted wallet has been frozen,” they wrote, emphasizing the incident’s isolation and steps already taken to address the cause.

Additionally, they confirmed active collaboration with law enforcement to identify the perpetrators. Reiterating their commitment to security and transparency, Gala Games pledged to provide further updates throughout the investigation and take “all necessary steps” to prevent future exploits.

While the initial alert lacked details, CEO Eric Schiermeyer later revealed a company “internal control mess-up” that allowed the “unauthorized sale of 600 million GALA” and the burning of 4.4 billion tokens. Despite Gala Games’ swift action, the breach’s impact rippled through the market, causing a significant drop of over 20% in the GALA token price.

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Solana Alternative ETFSwap (ETFS) Begins 10,000 Run

ETFSwap (ETFS) looks to be the perfect project for GALA investors, given how safe and promising the ecosystem is. This belief stems from ETFSwap’s modern and efficient approach toward traditional ETF trading. By leveraging tokenization, the platform boasts accelerated transactions, enhancing speed, cost-effectiveness, and efficiency on the blockchain. The platform also offers users the ability to purchase, trade, and invest in a wide array of tokenized assets, including fixed-income funds, commodity ETFs, and leveraged options.

ETFSwap emphasizes security and transparency; the platform employs blockchain technology to ensure secure, transparent trading with verifiable transactions, immutable data, and decentralized governance. Moreover, ETFSwap eliminates intermediaries and KYC requirements, delivering a seamless user experience. To further enhance user safety, Cyberscope, a reputable blockchain security firm, has thoroughly audited the platform’s smart contracts. The audit revealed no flaws in the project’s security and underlying infrastructure.

In terms of maximizing returns, ETFSwap offers a distinctive 50x trade leverage feature that enables seasoned investors to maximize their profits. This is in addition to the platform’s native token, ETFS, which powers the ecosystem and facilitates trading. But that’s not all. The platform carries the promise of a potential 10,000% rally, as well as passive income from staking the tokens.

With the amount of liquidity expected to flow into the industry even from now, crypto experts have predicted that the ETFS token can make a 10,000% run for its price to achieve a value of $1, especially given its potential to benefit significantly from such substantial liquidity.

Crypto investors already picked up on this bullish narrative, which explains why over 70 million ETFSwap (ETFS) tokens have been sold in stage 1 of the token’s presale. Now is the right time to invest in the ETFSwap, as each token is currently selling for an affordable $0.00854.

For more information about the ETFS Presale:

Visit ETFSwap Presale

Join The ETFSwap Community

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