🔥🔻GALA DESTROYED? The hacker minted 56B of GALA coins❗
🔥Hi friends! Bad news for GALA. According to some reports, unknown persons have minted ~55.6 billion pGALA synthetic tokens worth up to $2.2 billion through the PancakeSwap decentralized exchange (DEX).
✅ The hacker managed to sell only 12,977 BNB, which he bought for printed GALA. The total "profit" is $4-5 million.
📊 First of all I should say that GALA wasn't hacked because it based on ETH blockchain. The hackers attacked the pGALA coins which is used on the PancakeSwap.This information confirm the President of Blockchain of Gala Games.
✅Also GALA wasn't hacked due to the official Twitter account of GALA Games. I think they mean tockens on the exchanges that based on the ETH blockchain.
📊 SO WHY THE PRICE OF GALA DUMPED?
The coin price fall because of the panic and arbitrage of some market players. Huobi exchange decided to delist the coin because the arbitrageurs collapsed the price by almost -80-90%.
🚩 On Binance, the coin fell by -34%🔻, but the exchange blocked the withdrawal/deposit to avoid the manipulation with price.
📊 WILL GALA CONTINUE TO DUMP?
So as you all understand now, the price DUMP based not only on the hacker attack but because of the panic and arbitrageurs. I think that in a few days the price return to it's previous conditions.
I recommend to check my latest idea on GALA. The price already make +42-45% from our entry point. I hope my subscribers book the profit and close the part of position in the breakeven.
I think that we can left the same targets. The main task for now is to find the best entry point for long positions. Of course, look at the BITCOIN to choose the direction of altcoins movements. If BTC is bullish, all altcoins is bullish too.
🚩 FUN FACT. In addition to the fact that Bitcoin finally started its growth, October was a record month for the number of hacks. During the month, hackers stole almost $657.2 million in crypto. Now we can call October not only Uptober but Hacktober.
Traders, do you sell or buy GALA on this DUMP? What will happen to GALA in upcoming days? Write your thoughts in the comments.
💻Friends, press the "boost"🚀 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
✅ The hacker managed to sell only 12,977 BNB, which he bought for printed GALA. The total "profit" is $4-5 million.
📊 First of all I should say that GALA wasn't hacked because it based on ETH blockchain. The hackers attacked the pGALA coins which is used on the PancakeSwap.This information confirm the President of Blockchain of Gala Games.
✅Also GALA wasn't hacked due to the official Twitter account of GALA Games. I think they mean tockens on the exchanges that based on the ETH blockchain.
📊 SO WHY THE PRICE OF GALA DUMPED?
The coin price fall because of the panic and arbitrage of some market players. Huobi exchange decided to delist the coin because the arbitrageurs collapsed the price by almost -80-90%.
🚩 On Binance, the coin fell by -34%🔻, but the exchange blocked the withdrawal/deposit to avoid the manipulation with price.
📊 WILL GALA CONTINUE TO DUMP?
So as you all understand now, the price DUMP based not only on the hacker attack but because of the panic and arbitrageurs. I think that in a few days the price return to it's previous conditions.
I recommend to check my latest idea on GALA. The price already make +42-45% from our entry point. I hope my subscribers book the profit and close the part of position in the breakeven.
I think that we can left the same targets. The main task for now is to find the best entry point for long positions. Of course, look at the BITCOIN to choose the direction of altcoins movements. If BTC is bullish, all altcoins is bullish too.
🚩 FUN FACT. In addition to the fact that Bitcoin finally started its growth, October was a record month for the number of hacks. During the month, hackers stole almost $657.2 million in crypto. Now we can call October not only Uptober but Hacktober.
Traders, do you sell or buy GALA on this DUMP? What will happen to GALA in upcoming days? Write your thoughts in the comments.
💻Friends, press the "boost"🚀 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
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