Gala Update DWF Labs Bullish on Gala Despite Hack, Made Big Investment - Featured Image

Gala Update: DWF Labs Bullish on Gala Despite Hack, Made Big Investment

(21 May 2024, 21:04 PM IST)

Gala, one of the leading token in the Web3 gaming space, recently faced a significant setback. A potential exploit allowed someone to mint 5 billion GALA tokens, worth approximately $206 million. This incident caused the value of the Gala token to plummet by over 22%, bringing its price down to $0.03753.

Source: TradingView

However, recent news from DWF Labs has brought a renewed sense of Positivity to the Gala community as the token bounced back to $0.04325.


Market-maker DWF Labs announced that it remains bullish on GALA despite the security breach at Gala Games. In a show of confidence, DWF Labs revealed that it purchased a big amount worth of GALA tokens after the hack.

Specifically, DWF Labs acquired 28 million GALA tokens, which have a market value of around $1.15 million at the current price. The firm stated that this purchase aims to alleviate market selling pressures and help stabilize the token’s value during this turbulent period.

DWF Labs expressed its unwavering support for Gala Games, emphasizing its belief in the platform’s long-term potential. The firm’s statement concluded with a message of solidarity and confidence in Gala’s ability to overcome this setback and emerge stronger.


“We are confident in Gala Games’ ability to navigate this setback and emerge stronger,” DWF Labs stated. “There will always be ups and downs in crypto, but we will be #StrongerTogether.”

This vote of confidence from DWF Labs has helped to restore some positive momentum for Gala, providing reassurance to investors and the broader community that the project has the support needed to recover and thrive.

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