In a striking blow to the crypto gaming sector, hackers unleashed two devastating exploits against PlayDapp, a prominent gaming and NFT platform. The security breaches enabled the unauthorised minting of a staggering 1.79 billion PLA tokens, leading to a loss exceeding $290 million. The initial attack on February 9 saw the creation of $36.5 million worth of tokens. This was merely a prelude to a far more significant onslaught on February 12, where hackers minted an additional $253.9 million in PLA tokens.
In the aftermath, PlayDapp's efforts to open a dialogue with the perpetrator proved fruitless, with the hacker showing no inclination towards returning the stolen assets. This failure to negotiate prompted the illicit funds to be laundered through various cryptocurrency exchanges. In response to this dire scenario, PlayDapp announced a $1 million white hat reward, an incentive for the hacker to return the stolen funds voluntarily. However, with the hacker remaining elusive, PlayDapp has escalated the issue by collaborating with law enforcement agencies in a bid to track down the offender and recover the lost assets.
The value of PLA tokens has plummeted to $0.15, reflecting the market's shaken confidence in the platform's security measures. In a move to mitigate further damage and protect its users' assets, PlayDapp has temporarily paused all transactions related to the PLA smart contract.
