GALA Token Price Struggling After $212 Million Hack, Solana Alternative Starts Running 10,000%

The recent breach of Gala Games, a leading blockchain gaming platform, has shaken the confidence of cryptocurrency investors. This breach resulted in a significant decline in the value of GALA tokens, forcing investors to seek safer and more reliable investment options.

This incident led to the emergence of ETFSwap (ETFS), attracting attention as a safer alternative. ETFSwap (ETFS) boasts a strong security platform and market strength, and has caught the attention of cryptocurrency analysts who predict it could deliver 10,000% returns in this market cycle.

Gala Games’ security breach shakes the ecosystem

On May 20, 2024, a serious security breach shocked the Gala Games ecosystem. According to Etherscan data, a whopping 5,000,000,001 GALA tokens worth approximately $212 million were minted and transferred without permission. But the team responded quickly.

They reportedly contained the breach within 45 minutes and blacklisted the attackers’ addresses, effectively minimizing potential losses to approximately $21 million. Hours later, on May 21, Gala Games released its first update acknowledging the attack. “The security incident involving GALA tokens has been contained and the affected wallets have been frozen,” they wrote, highlighting steps already taken to isolate and address the cause of the incident.

We also confirmed that we are actively working with law enforcement to identify perpetrators. Reiterating its commitment to security and transparency, Gala Games promised to provide further updates throughout the investigation and take “all necessary steps” to prevent future exploits.

Although the initial warning was short on details, CEO Eric Schiermeyer later revealed an “internal control disruption” at the company that allowed for the “unauthorized sale of 600 million GALA” and the burning of 4.4 billion tokens. Despite Gala Games’ quick action, the impact of the breach rippled through the market, causing a significant drop in GALA token price by more than 20%.

Solana Alternative ETFSwap (ETFS) 10,000 Run Started

ETFSwap (ETFS) appears to be the perfect project for GALA investors, considering how secure and promising the ecosystem is. This belief stems from ETFSwap’s modern and efficient approach to traditional ETF trading. By leveraging tokenization, the platform boasts accelerated transactions, improving the speed, cost-effectiveness, and efficiency of the blockchain. The platform also provides users with the ability to buy, trade and invest in a variety of tokenized assets, including fixed income funds, commodity ETFs and leveraged options.

ETFSwap emphasizes security and transparency. The platform uses blockchain technology to ensure secure and transparent transactions through verifiable transactions, immutable data, and decentralized governance. Additionally, ETFSwap provides a seamless user experience by eliminating middlemen and KYC requirements. To further enhance user safety, Cyberscope, a reputable blockchain security company, has thoroughly audited the platform’s smart contracts. The audit found no flaws in the project’s security and underlying infrastructure.

In terms of profit maximization, ETFSwap offers a unique 50x trading leverage feature to help seasoned investors maximize their returns. This is in addition to ETFS, the platform’s native token, which powers the ecosystem and facilitates trading. But that’s not all. The platform promises a potential 10,000% rally and passive income through token staking.

With large amounts of liquidity expected to flow into the industry in the future, cryptocurrency experts have predicted that the ETFS token could achieve a price increase of 10,000% to reach a value of $1. Especially considering the potential to profit significantly from such significant liquidity. .

Cryptocurrency investors have already picked up on this bullish story, which explains why over 70 million ETFSwap (ETFS) tokens were sold in the first phase of the token presale. With each token currently selling for a cheap $0.00854, now is a good time to invest in ETFSwap.

For more information on the ETFS pre-sale, see:

Visit ETFSwap Presale

Join the ETFSwap Community