$GALA GalaChain Halts Bridge Due to Security Vulnerability: $2.9 Million Affected, 82% from CEO's Wallet
GalaChain has temporarily suspended its bridge operations following a $2.9 million asset leak, during which 19.9 billion GALA ($2.9 million) was transferred to ETH via the bridge over the course of about an hour.
🔸 82% of the affected funds (16.39 billion GALA) originated from a wallet linked to CEO and co-founder Eric Schiermeyer, alongside approximately $500,000 in other assets.
🔸 The vulnerability was identified as an EIP-712 "Unsigned" Field Injection issue on GalaChain; a patch was deployed on GitHub just hours after the incident.
👉 This incident once again raises questions regarding bridge security and centralization, particularly given that the CEO's assets were the most heavily impacted. While the team responded quickly with a fix, the event could affect short-term confidence. It also serves as a reminder to stay updated on security patches and exercise caution with assets in new ecosystems.
💬 Do you still trust GalaChain after this incident, or are you considering withdrawing your assets?
News is for reference, not investment advice. Please read carefully before making a decision.
GalaChain has temporarily suspended its bridge operations following a $2.9 million asset leak, during which 19.9 billion GALA ($2.9 million) was transferred to ETH via the bridge over the course of about an hour.
🔸 82% of the affected funds (16.39 billion GALA) originated from a wallet linked to CEO and co-founder Eric Schiermeyer, alongside approximately $500,000 in other assets.
🔸 The vulnerability was identified as an EIP-712 "Unsigned" Field Injection issue on GalaChain; a patch was deployed on GitHub just hours after the incident.
👉 This incident once again raises questions regarding bridge security and centralization, particularly given that the CEO's assets were the most heavily impacted. While the team responded quickly with a fix, the event could affect short-term confidence. It also serves as a reminder to stay updated on security patches and exercise caution with assets in new ecosystems.
💬 Do you still trust GalaChain after this incident, or are you considering withdrawing your assets?
News is for reference, not investment advice. Please read carefully before making a decision.