Following a sequence of unauthorized transactions of GMEE token contracts on Polygon, blockchain sport developer Gamee, which is owned by Animoca Manufacturers, has revealed on X that the exploit amounted to 600 million GMEE tokens, which was price round $15 million on the time of the theft. The staff additionally assures that the incident didn’t have an effect on any community-owned property, however was restricted to staff token reserves.
Initially, Gamee alerted its followers on X of a safety breach and suggested everybody to chorus from additional GMEE transactions. Round 5 hours later, the corporate posted a extra in-depth report of the incident, saying early findings level to a flaw in entry management, which was adopted by a sequence of unauthoraized conversions of GMEE to ETH and MATIC on numerous exchanges. These subsequently led to the GMEE token falling by over 50% over the span of 24 hours.
Whereas at the moment enterprise a full safety assessment and authorized proceedings, Gamee has briefly cancelled liquidity provisioning on all decentralized exchanges along with disabling GMEE deposits on centralized exchanges.
Keep up-to-date through Gamee’s X channel.
