Cryptocurrency NewsPlayDapp's Blockchain Breach Leads to Unauthorized Token Minting

PlayDapp’s Blockchain Breach Leads to Unauthorized Token Minting

Blockchain security specialist CertiK has identified a possible vulnerability involving the theft of private keys linked to PlayDapp, a blockchain-based P2E (Play to Earn) game operating on Ethereum. This security lapse allowed for the unauthorized creation of a new token minting address, leading to the issuance of 200 million PLA tokens unexpectedly. As a result of this security issue, the market value of PLA tokens fell sharply by almost 10%, hitting its lowest point since October. PlayDapp has not yet issued an official statement regarding this matter.

Data from DappRadar reveals that, following this security incident, the total asset value on the PlayDapp platform saw a nearly 14% decrease, despite a notable rise in the number of unique active wallets engaging with the platform today. This event highlights the persistent security challenges that web3 initiatives face in protecting their digital assets from unauthorized activities.

PlayDapp is a key player in the blockchain gaming sector, providing a marketplace for gamers and developers to purchase, sell, and exchange NFTs and various in-game items. The platform is designed to support a cross-game ecosystem, enabling assets acquired in one game to be used in others, thereby enhancing their overall value and utility.

source

Join us

12,746FansLike
1,625FollowersFollow
5,652FollowersFollow
2,178FollowersFollow
- Advertisement -