Gala Games, a web3 gaming firm, appears to have suffered an exploit Monday, with someone minting 5 billion GALA tokens worth around $206 million, according to the blockchain explorer Etherscan. 

Following the incident, GALA, the platform's native token, plummeted nearly 15% from $0.0467 at 3:00 p.m. ET (19:00 UTC) to $0.0397 at around 5:25 p.m. ET (21:25 UTC) on May 20, based on data from The Block's price page for the token.

Overall, the token's price fell 5.77% within the past day. GALA maintains a $1.7 billion market capitalization with a circulating supply of 40.6 billion. 

The situation is developing, and The Block contacted Gala Games for comment. 

Previous Gala Games exploit

In early 2021, Gala Games lost …