Huobi will allocate $25 million, including $15 million USDT and compensation in the equivalent of $10 million. in the form of cash. Gala Games will offer licenses for nodes for $25 million.
The implementation of the compensation plan will begin next week.
The pGALA incident occurred 5 months ago as a result of pNetwork’s cooperation with hackers who mined pGALA tokens worth $1 billion in the BNB blockchain, and then withdrew them from the liquidity pool to illegally receive more than $10 million. Tokens were unloaded on decentralized exchanges, including PancakeSwap, as a result, the cost of GALA fell by 94%.
During the incident, the PNetwork platform claimed to have effectively attacked itself. According to the company, this did not allow fraudsters to escape with stolen funds.
Refunds to users are just one of the measures that Huobi and Gala Games have taken to combat the consequences of the pGala fraudulent scheme.
In March, the companies sued pNetwork for damages and reputation restoration.