INDODAX today announced the suspension of deposit and withdrawal activities for GALA (network BEP-20) on November 4, 2022 at 08.03 WIB, due to concerns regarding the development of pNetwork’s pGALA Token.
We have also discontinued support for the GALA token on the BEP-20 (BSC) network, but will continue to provide support for the token on the ERC-20 network.
The chronology of the events of the GALA Token is as follows:
- On November 4, 2022, 3:13 WIB there was an exploit on the GALA token on the Binance Smart Chain network. Someone managed to illegally mint pGALA tokens due to a misconfiguration on the pNetwork cross-bridge.
- The official statement from pNetwork can be seen on : https://twitter.com/pnetworkdefi/status/1588266897061031936?s=21
- In the statement pNetwork states that the pGALA after the exploit is no longer valid and will be replaced by a new pGALA token.
With the recent development, INDODAX will take the following steps over the next few days:
- The current GALA token available in Indodax, will be changed to pGALA token. The pGALA token is a GALA token on the Binance Smart Chain network with the address 0x7dDEE176F665cD201F93eEDE625770E2fD911990, which has been exploited.
- The pGALA token deposit will be suspended indefinitely.
- Withdrawal of pGALA tokens will be re-open, please wait for further announcements.
- We were in communication with the GALA developer team and pNetwork regarding the GALA asset recovery solution prior to the incident.
- If the new pGALA airdrop plan from pNetwork is successful and has the correct value, then Indodax will re-list the GALA on the Ethereum (ERC20) network.
- pGALA tokens may be delisted in the future, delisting announcements will be announced separately.
- The plans above are subject to change at any time following developments from GALA and pNetwork.
Currently INDODAX is communicating with all related parties to ensure your assets are safe.
This official statement will change from time to time in accordance with market developments and Indodax management decisions.
We hope that the information provided above can provide clarity of information to all INDODAX members.
If any INDODAX members have further questions and inquiries, members can contact us at 021-5065 8888 or via email at [email protected]. Our support team is on standby for 24 hours and will gladly provide further explanations.
Once again, we thank you for the trust you continue to give INDODAX until now. We appreciate your support.
Kind regards,
Oscar Darmawan
Indodax CEO
