Binance crypto exchange helped Gala Games to find the main culprit behind the recent hack 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 items and money in the game are NFTs and cryptocurrencies. This means players can own and trade these digital assets.
On 20 May 2024, we reported that Gala Games was exploited but later the GalaGames team successfully convinced the hacker to return 90% of the stolen funds.
On 27 May 2024, The GalaGames team appreciated the role of the Binance team in engaging in the recent hack incident & bringing support from the enforcement agencies to find the main culprit who was responsible for the whole misconduct.
Earlier this GalaGames CEO Eric Schiermeyer confirmed that they took help from the US DOJ, and FBI to find the culprit.
Gala token price action
The current trade price of Gala token is $0.043 & this trade price is 1.1% down over the last 24 hours.
Involvement of enforcement agencies in the Crypto
It is worth it to note that the involvement of enforcement agencies in crypto-related hacking incidents has surged rapidly over the last few years and this shows that government agencies are not serious about the crypto sector.
Also, we can see that Binance like top crypto exchanges are playing a better game against the crypto bad actors. In the past, the Binance intelligence team also helped many government agencies to trace crypto transactions & also showed direct involvement in illegal crypto money transactions to find the culprits.
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