Popular Binance-Listed Gaming Altcoin Suffers Massive Hack Incident: Major Losses

PlayDapp, a famous blockchain gaming platform, has fallen victim to a major security breach. The incident was first reported by cryptocurrency security company Cyvers Alerts earlier today.

An unidentified attacker managed to infiltrate the platform’s security, added their address as a miner, and then mined a staggering 200 million PLA altcoins. The value of these tokens is estimated to be approximately $31 million.

The stolen PLA tokens have since been distributed to various addresses. Remarkably, $5.9 million worth of tokens were transferred to the Gate.io platform.

In response to the attack, PlayDapp released an official statement confirming the security breach. The company argued that it took immediate action to protect PLA assets. As a precaution, all PLA held by PlayDapp, including both locked and unlocked assets, are being mandatorily transferred to a new, secure wallet.

The statement continued with the following statements:

“We take security very seriously and are committed to protecting your assets.”

However, after the attack, there was a sudden depreciation in the price of PLA. At the time of writing this article, the altcoin is trading at $0.1618, with a 10.87% loss in value in the last 24 hours. The market value of the altcoin is approximately $93 million and this $31 million hack seems significant.

*This is not investment advice.