Security News > 2024 > February > Hackers steal $290 million in crypto from PlayDapp gaming platform
Hackers are believed to have used a stolen private key to mint and steal over $290 million in PLA tokens, a cryptocurrency used within the PlayDapp ecosystem.
PlayDapp is a blockchain-based platform that uses and trades non-fungible tokens within games, allowing users to buy, sell, and trade digital assets across various games without intermediaries.
On February 9, 2024, an unauthorized wallet minted 200 million PLA tokens, valued at $36.5 million.
PlayDapp immediately informed its community that the PLA token contract had been hacked, warning that they were taking immediate action.
The offer did not convince the hackers, as on February 12, 01:01:47 PM +UTC, they minted a massive 1.59 billion PLA tokens, worth $253.9 million at the time, taking the total tally up to $290.4 million.
Cryptocurrency experts at Elliptic reported that despite the coordinated action of PlayDapp and major exchanges to hinder the dispersion of stolen PLA tokens, the money is already moving to various accounts and being laundered.