February 14, 2024 at 11:22AM
Hackers exploited a stolen private key to generate and steal 1.79 billion PLA tokens from PlayDapp, a blockchain platform for trading non-fungible tokens (NFTs) in games. PlayDapp took immediate measures, including offering a $1 million reward to recover the stolen assets. The attack, potentially by the “Lazarus Group,” resulted in significant financial and security implications.
From the meeting notes:
– Hackers used a stolen private key to mint and steal over 1.79 billion PLA tokens, valued at $290.4 million.
– PlayDapp took immediate action, transferring all tokens to a secure wallet.
– They offered a $1 million “white hat” reward to the hacker and threatened to involve law enforcement.
– The hackers chose not to return the stolen assets and minted an additional 1.59 billion PLA tokens.
– This resulted in a drop in the price of PLA tokens, prompting PlayDapp to suspend trading and take measures to mitigate the breach.
– The platform is now advising users to refrain from transactions until the migration to a safe system and to remain vigilant against phishing and scams.
– Despite efforts to hinder the dispersion of stolen tokens, the money is being laundered. The attack is currently not attributed to any known threat actors, but it bears similarities to the Lazarus Group, a North Korean hacking collective known for executing massive breaches against crypto-gaming platforms.
Let me know if you need further clarifications or additional information on these meeting notes.