Unauthorized access to “Gamee” contract under Animoka Brands, worth 2.2 billion yen leaked

10 months ago 66

GMEE tokens encountered theft

On the 23rd, the blockchain game project “Gamee” announced that the contract for its proprietary token GMEE was accessed illegally and 600 million tokens were stolen.

The company explained that only the tokens held by the Gamee team were stolen, and that assets owned by the community were not affected.

Summary:
A few hours ago, there was unauthorized access to the $GMEE token contracts on Polygon leading to the theft of funds. Gamee team has secured all unauthorized access to the token contracts. The exploit affected proprietary team token reserves only, and no community-owned…

— GMEE Token (@GAMEEToken) January 23, 2024

Gamee was founded in 2015 and is currently under the umbrella of Animoca Brands, a leading NFT (non-fungible token) gaming company.

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It offers dozens of casual games on its mobile gaming platform, and is currently releasing games in collaboration with NASA and Manchester City Football Club, among others. According to the official website, there are over 75 million registered users.

According to the investigation so far, on the 23rd, the address of the GMEE deployer on Polygon (MATIC) was compromised by unauthorized access and 600 million tokens were leaked. The perpetrators then exchanged the stolen tokens for Ethereum (ETH) and MATIC on various decentralized exchanges (DEXs).

Following this incident, Gamee’s team moved ownership of the contract to a new secure address to prevent further unauthorized access.

The value of the leaked tokens was approximately 2.2 billion yen ($15 million) at the time of the hack. The GMEE token price at one point fell 64% to below 0.7 yen, but is currently hovering around 2.8 yen.

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Future actions

Gamee’s team informed all centralized exchanges where GMEE is listed to temporarily disable deposits and freeze tokens related to the hack. Additionally, the following are other measures currently in progress:

Temporarily suspending liquidity provision on all DEXs
Cooperate with law enforcement to initiate legal proceedings
Thoroughly check the security of all procedures and contracts

The company also said it has begun the process of identifying users affected by the hack and is considering ways to support the community. He also said he would report further details and measures as soon as they become available.

connection: Metamask and others warn that virtual currency may be illegally leaked from a wide range of Ledger-compatible dApps

smart contract

A system that automatically executes a contract according to pre-programmed conditions. When concluding a contract, administrative work such as intermediaries and contract drafting is often required, so making it possible to automatically execute contracts can be expected to improve efficiency and reduce costs. .

Virtual currency glossary