Our weekly updates are put together by folks deep in the crypto scene, giving you a clear picture of what's happening without overwhelming you.
To Watch This Week
AIRDROPS + ALPHANov 14, 2024
Law and Order
Bengal Man Arrested in Connection With $235 Million WazirX Hack
Delhi Police’s Intelligence Fusion and Strategic Operations (IFSO) division has arrested a man from West Bengal, in connection with a massive cyberattack on WazirX. In July, the crypto industry witnessed the hack of India’s largest crypto exchange, WazirX. The exploit resulted in losses of approximately $235 million, with hackers targeting the platform’s hot and cold wallets. The accused SK Mausad Alam is under custody for allegedly facilitating the WazirX heist by opening a fraudulent account o...
Jul 31, 2024
Business
Liminal Pushes Back Against $230 Million WazirX Hack Claims
Following the $230 million hack of Indian crypto exchange WazirX earlier this month, cryptocurrency custody service provider Liminal has pushed back against accusations that the attack involved its infrastructure. A Liminal spokesperson told Decrypt that the company’s systems were not compromised in order to recently funnel $230 million of WazirX’s crypto assets. A compromised multi-signature smart contract wallet used in the attack was allegedly “created independently and further imported on th...
Dec 12, 2023
Gaming
Champions Arena is Ushering In a ‘New Generation’ of In-Game NFTs
Following its launch in August on Gala Games, OneUniverse’s turn-based mobile battler Champions Arena is powering ahead with the addition of new NFT features and a bold plan to win over Web2 gamers to the world of Web3 gaming. “Web3 is still a tiny crowd compared to the mainstream gamers of the world, and the last thing we want to do is alienate the majority of players who would enjoy the game by waving Web3 in their faces incessantly,” Gala Games’ President of Blockchain Jason “Bitbender” Brink...
Sep 6, 2023
Business
Social Network Rep is Taking GalaChain Beyond Gaming
Gala Games’ newly inaugurated proprietary blockchain GalaChain has ambitions beyond the gaming space—with the launch of social media platform Rep showcasing the potential of the decentralized protocol. “People look at us as a metaverse or gaming project primarily,” Gala’s President of Blockchain Jason Brink told Decrypt. “But the reality is that all of the gaming content is the ‘window dressing’ for what's going on behind the scenes—which is the creation of a massive decentralized protocol that...
Apr 18, 2023
Business
Gala v2 Airdrop Announced: What You Need to Know
Web3 gaming project Gala Games will airdrop GALA v2 tokens to all GALA holders on May 15, the team announced in a blog post. An automatic 1:1 conversion for all users has been arranged, with support for the GALA v1 token being immediately dropped. No action is required from users holding GALA in their Ethereum wallet(s). The team has advised users to remove their GALA tokens from any liquidity pools or smart contracts before the snapshot on May 15; if tokens are left in a liquidity pool, the liq...
Jan 11, 2023
Business
Gala Deletes 'Overzealous' Tweet About The Rock, Mark Wahlberg—Token Falls 13%
Web3 entertainment startup Gala Games is facing scrutiny this week after tweeting about upcoming film projects with actors Dwayne “The Rock” Johnson and Mark Wahlberg, which coincided with a massive surge in value for its GALA token. But now the tweet has been deleted, and the token is shedding some of this week’s earlier gains. GALA is down nearly 14% in value over the last 24 hours, per data from CoinGecko, falling to a price of about $0.037 per token. Even so, at its current price, GALA has m...
Jan 10, 2023
Coins
GALA Soars 140% Over the Week as Gaming, NFT Coins Rally
So far, it's been a green year for cryptocurrencies. The broader crypto market capitalization has zoomed 6.7% to $884 billion since the start of the year, according to data from CoinGecko. Gaming and NFT-related cryptocurrencies, including Gala (GALA), Decentraland (MANA), Apecoin (APE), and The Sandbox (SAND), are no exception and have posted hefty double-digit gains over the past week. GALA, the native token powering Gala’s crypto gaming ecosystem, is up a whopping 139.8% over the past week...