TechFlow reports that PlayDapp, following a smart contract hack that led to the unauthorized minting of 1.79 billion PLA tokens, plans to launch a new PDA token to replace the original PLA token.
The official announcement states that the snapshot will be taken on February 26 at 16:00 Beijing time. Users are advised not to deposit or withdraw PLA tokens from their wallets or any exchanges before the migration process is complete, in order to ensure smooth migration and effective tracking of the invalidly minted tokens.
PlayDapp will collaborate with selected CEXs to facilitate the migration from PLA to PDA, compensating users holding PLA with PDA tokens. Affected users will receive compensation based on their token balance at the time of the snapshot, at a 1:1 ratio. Users holding PLA tokens on these coordinated CEXs will not need to take any action.
For PLA holders whose wallets are not on the coordinated CEXs: PlayDapp has prepared a migration portal and will later invite these users to access it.
Previous report: Blockchain analytics firm Elliptic reported that blockchain gaming platform PlayDapp was hacked on February 9, resulting in the unauthorized minting of 200 million PLA tokens, worth $36.5 million.
