Animoca-Backed Gaming Blockchain Reveals $15 mn Token Exploit
Blockchain gaming project GAMEE has suffered a token hack, resulting in the loss of 600m GMEE tokens valued at around $15.3m.
The hack was unauthorized access to the GMEE token contracts on the Polygon network, affecting proprietary team token reserves only.
The team has secured all unauthorized access to the token contracts. The Polygon GMEE deployer address was hacked through unauthorized GitLab access, with the stolen tokens converted to ether and MATIC.
The perpetrator then traded the compromised tokens on multiple decentralized exchanges, affecting their price. GAMEE has temporarily stopped providing liquidity on decentralized exchanges and informed centralized exchanges with GMEE markets to halt deposits and freeze tokens associated with the hack.
(With inputs from Shikha Singh)
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