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Gaming Platform PlayDapp Suffers $31 Million Hack – Details

Press Releases Crypto News Bitcoinist Gaming Platform PlayDapp Suffers $31 Million Hack – Details

Popular Web3 gaming platform PlayDapp has suffered a cyber attack resulting in an estimated loss of $31 million worth of assets. The attack was first detected by the security platform Cyvers Alerts before an official confirmation by PlayDapp. Since then, the gaming network has taken several measures to safeguard its users’ assets and recover the loot.

PlayDapp Deployer Address Compromised As Hacker Mints 200 Million PLA

In a post on X on February 9, Cyvers Alert shared that they had observed some suspicious transactions on PlayDapp. In particular, they noted that the network’s deployer address had been compromised by a foreign entity who added themselves as authorized minter on the Web3 gaming platform.

Using this access, the hackers printed 200 million units of PlayDapp’s native PLA token valued at $31 million. The security platform also noted that the stolen assets had been distributed to various addresses. Notably, the hacker has deposited $5.9 million worth of PLA in an address on the Gate.io exchange.

Few hours after Cyvers security warning, PlayDapp confirmed the attack in an official statement, saying that its management had initiated certain measures to contain the situation.

A statement from the announcement read:

…..We understand the gravity of this situation and assure you that we are taking immediate action. We have directly notified all partner exchanges and are collaborating with them to suspend trading and address the unauthorized tokens. We are working to resolve the issue. We will do our best to minimize the impact on PLA holders.

Notably, the gaming network has also transferred all locked and unlocked PLA tokens in its possession to a new wallet protected against the hacker’s influence. PlayDapp has described this move as a “precautionary measure” to

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Author: Semilore Faleti

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