Huobi HTX has completed the payment of tens of millions of dollars to users affected by the pGALA issuance attack
Odaily News According to official news from Huobi HTX, this week, Huobi HTX has completed the payment of tens of millions of dollars to users affected by the pGALA issuance attack, including compensation, on-site rights, and Gala nodes. Huobi HTX has also destroyed the ROCK (formerly PGALA) tokens of the TRON network and recast them on the GALA chain. It is reported that the pGALA incident originated from the pNetwork collaborating with hackers to issue a huge amount of pGALA equivalent to US$1 billion on the BSC chain using a cross-chain bridge vulnerability, and then sold and withdrawn from the liquidity pool, with an estimated cumulative profit of more than 10 million US dollars. Due to the sharp drop in the price of the on-chain currency and the malicious arbitrage of pNetwork's deliberate concealment of this information, many third parties including Gala Games and Huobi HTX suffered huge losses. In April 2023, Huobi HTX announced that it had negotiated with Gala Games to complete a compensation plan for users affected by the pGALA issuance attack. The compensation amount reached tens of millions of US dollars, of which Huobi HTX provided tens of millions of US dollars in USDT and equity as compensation to the affected users; similarly, Gala Games will also provide affected users with node compensation equivalent to 25 million US dollars. The above compensation plan has been completed this week.
