TechFlow News, November 5 — Regarding the GALA incident, Justin Sun stated that first, in collaboration with the project team, all holders of genuine GALA tokens on the Huobi platform will be fully reimbursed at a 1:1 ratio. The total compensation exceeds 55 million GALA tokens. Trading, deposits, and withdrawals of GALA tokens on the Huobi platform will resume to restore normal operations. Second, by tracing the inflow of counterfeit GALA tokens into the platform, all illegal accounts belonging to the attackers will be identified and dealt with comprehensively.
Third, to maximize protection of user interests, Huobi will launch the PGALA token featuring a burn-mining mechanism, using all transaction fee revenues from PGALA to continuously buy back and destroy PGALA tokens, thereby sustaining its value. Fourth, as part of its responsibility, Huobi will launch a $1 million bounty program to reward cross-platform arbitrageurs who proactively return profits gained from exploiting this vulnerability after having withdrawn funds from the platform. For malicious attackers who refuse to return the funds, Huobi will gather evidence and work with global partners to pursue recovery through all available means. (Source)
