Huobi alleges pNetwork made over $4M from its Gala ‘white hat attack’
Huobi claims that the GALA incident was not a white hat operation, as pNetwork stated, but rather a $4.5 million profit for the protocol. According to the exchange, there were other “premeditated actions” during the incident that netted the people involved more than $10 million in profit. Huobi went on to say that despite speaking with the pNetwork team 50 minutes before the incident, it was not informed that it would attack the pGALA token. Furthermore, there was no evidence that the vulnerability had been exploited, despite the fact that it had been in the contract for over two months. According to Huobi, the pNetwork teams rush to conduct the attack indicated malign intent to profit from the tragedy. The exchange also called the release of 55.6 billion GALA tokens to save a pool worth approximately $400,000 ridiculous and thus unjustified. Huobi converts users GALA tokens to pGALA Meanwhile, numerous Huobi users were enraged after their GALA tokens were changed into pGALA by the exchange. After a wrapper version supported by pNetwork, the crypto exchange chose to delist GALA; pGALA lost its value due to the developer minting surplus tokens in a white hat attack. The extra new tokens drove GALAs price on Huobi almost to zero,