Gala Games Scandal: CEO Claims Co-Founder Brains Behind $130-M Token Theft | Headlines | News | CoinMarketCap

09/05/2023 03:12
Gala Games Scandal: CEO Claims Co-Founder Brains Behind $130-M Token Theft | Headlines | News | CoinMarketCap

Gala Games CEO Eric Schiermeyer has launched a legal battle against his co-founder, Wright Thurston, and his investment firm, True North United …

Gala Games CEO Eric Schiermeyer has launched a legal battle against his co-founder, Wright Thurston, and his investment firm, True North United Investments. Schiermeyer alleges that around $130 million worth of GALA tokens were stolen in early 2021, setting the stage for a contentious legal showdown.

Schiermeyer’s lawsuit claims that GALA tokens were initially moved to a wallet under the company’s control. However, things took a nefarious turn when Thurston allegedly transferred these tokens into 43 different wallets. When questioned about these actions, Thurston purportedly asserted that he was safeguarding the tokens for Gala’s benefit. 

However, according to Schiermeyer’s suit, Thurston eventually moved the tokens again, engaging in a series of intricate and convoluted …

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