Gala Games, a prominent Web3 gaming platform, has suffered a significant security breach resulting in the unauthorized minting of approximately 5 billion GALA tokens, valued at around $240 million. The attacker, who compromised a private key with administrator privileges, has been systematically selling the tokens, primarily through decentralized exchanges like Uniswap. Despite efforts to contain the breach, the hacker managed to swap a portion of the stolen tokens for approximately 5,930 ETH, worth around $21.5 million. Gala Games has announced that the security incident has been contained, with the impacted wallet frozen and the team working closely with law enforcement, including the FBI, to investigate the breach. The incident led to a 19% drop in the value of GALA tokens. Additionally, the CEO believes the exploiter has been identified, and there was an effective burn of 4.4 billion tokens.