GalaChain saw an unusual asset outflow on Tuesday, according to crypto reporter Kate Irwin. A total of 1.99 billion GALA, valued at about $2.9 million, along with other tokens, was moved from five main addresses to a newly created wallet. The GALA was then swapped across chains into ETH in roughly an hour.
About 82% of the total, or 1.639 billion GALA, came from a wallet linked to Gala CEO and co-founder Eric Schiermeyer. That same wallet also sent out roughly $500,000 worth of other tokens. Hours after the transfers, Gala developers pushed a fix to GitHub and described the issue as an unsigned field injection vulnerability in GalaChain’s EIP-712 implementation.
Gala has since paused its Ethereum and Solana bridges, saying they are under maintenance. As of the report, neither GalaChain nor Schiermeyer had responded to requests for comment.
GalaChain suffered an unusual asset outflow on Tuesday, according to crypto reporter Kate Irwin. A total of 1.99 billion GALA, worth about $2.9 million, along with other tokens, was moved from five main addresses to a new wallet. The GALA was then bridged and swapped into ETH in about an hour.
Roughly 82% of that amount, or 1.639 billion GALA, came from a wallet linked to Gala CEO and co-founder Eric Schiermeyer. That wallet also sent out about $500,000 in other tokens.
Hours after the incident, Gala developers submitted a fix on GitHub and classified the issue as an unsigned field injection vulnerability in GalaChain EIP-712.
Gala has now paused its Ethereum and Solana bridges, saying they are under maintenance. GalaChain and its CEO had not responded to requests for comment at the time of the report.
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