PlayDapp Faces Crypto Hack Crisis as Hackers Steal $290M Worth of PLA Tokens
PlayDapp, the Blockchain gaming platform, is facing a distressing situation as it experiences a second cybersecurity exploit in just one week. The initial breach resulted in a loss of $31 million in assets, and now, the attackers have managed to steal a total of $290 million worth of PLA tokens, PlayDapp’s native cryptocurrency.
In the recent attack, the hackers gained access to the platform’s backend infrastructure and added their address to the PlayDapp backend. They then executed a private key compromise, minting 200 million PLA tokens valued at $36.5 million. Not stopping there, they escalated their malicious activities and created an additional 1.59 billion PLA tokens on February 12, totaling $253.9 million. These stolen funds were later laundered through exchanges.
The audacious hacker, maintaining access to the company’s systems, struck again after the initial theft of $36 million, making off with an additional $254 million. This brings the total losses for PlayDapp to a staggering $290 million. Experts believe the hacker gained access to one of the platform’s private keys to mint new funds.
In response to the attack, the PlayDapp team took immediate action. They halted the PLA smart contract and requested a transaction halt for a snapshot. They also communicated with cryptocurrency exchanges (CEXs) to suspend deposits and withdrawals, preventing further losses. The hacker’s wallets were frozen on major CEXs, impeding their illicit activities.
The PlayDapp team directly contacted the hacker through an on-chain message, offering a reward for the return of the stolen assets. However, the hacker remained elusive despite repeated attempts. The team then warned of involving the FBI and law enforcement agencies, urging compliance. They also announced a bounty and sought assistance from WEB3 security agencies.
Following the breach, the price of the PLA token dropped to $0.15 on February 13, reflecting a 2.9% decrease over 24 hours. Nevertheless, the PlayDapp team is actively working towards recovering the stolen tokens and is in communication with the hacker. The crypto community eagerly awaits the hacker’s response and the forthcoming mitigation plan from the resilient PlayDapp team.