{"id":571060,"date":"2024-01-24T02:00:46","date_gmt":"2024-01-24T02:00:46","guid":{"rendered":"https:\/\/uniquehot.com\/?p=571060"},"modified":"2024-01-23T19:07:41","modified_gmt":"2024-01-23T19:07:41","slug":"exploit-on-polygon-contracts-extract-15m-here-are-the-details","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/exploit-on-polygon-contracts-extract-15m-here-are-the-details\/","title":{"rendered":"Exploit On Polygon Contracts Extract $15M, Here Are The Details"},"content":{"rendered":"<p style=\"font-weight: 400\">The play-and-own mobile gaming platform GAMEE suffered an exploit of its GMEE token contracts on Polygon that led to the theft of 600 million GMEE tokens and left the crypto community pondering questions.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/solana-based-aurory-suffers-devastating-exploit-80-of-liquidity-gone\/\" target=\"_blank\" rel=\"noopener \">Solana-Based Aurory Suffers Devastating Exploit: 80% Of Liquidity Gone<\/a><\/div>\n<h2>GAMEE Confirms $15M Exploit On Polygon<\/h2>\n<p style=\"font-weight: 400\">On January 22, GAMEE Token\u2019s official X (formerly Twitter) account advised its users to refrain from engaging with the digital asset while their team investigated the GMEE token-related security comprise it had just suffered.<\/p>\n<p style=\"font-weight: 400\">The GMEE token is an ERC-20 utility token \u201cdesigned to be the currency of access, action, and governance within the GAMEE ecosystem,\u201d as their website states.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udea8 <a href=\"https:\/\/twitter.com\/search?q=%24GMEE&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$GMEE<\/a> | URGENT <\/p>\n<p>There has been a security incident involving the GMEE token. As a precautionary measure, we advise all users to refrain from engaging with <a href=\"https:\/\/twitter.com\/search?q=%24GMEE&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$GMEE<\/a> until further notice.<\/p>\n<p>Our team is actively investigating the situation, and updates will be provided soon.<\/p>\n<p>&mdash; GMEE Token (@GAMEEToken) <a href=\"https:\/\/twitter.com\/GAMEEToken\/status\/77587641?ref_src=twsrc%5Etfw\" rel=\"nofollow\">January 22, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"font-weight: 400\">Before the official announcement, crypto users quickly noticed the token\u2019s sudden price crash and the transactions behind it. This left GAMEE users and the general crypto community wondering if an exploit had occurred.<\/p>\n<p style=\"font-weight: 400\">In the early hours of January 23, GAMEE\u2019s team returned to the X platform to explain what happened and the steps to come.<\/p>\n<p style=\"font-weight: 400\">The thread <a href=\"https:\/\/twitter.com\/GAMEEToken\/status\/49464727\" target=\"_blank\" rel=\"noopener nofollow\">explains<\/a> that their preliminary investigation indicated that the GMEE token contracts on Polygon had been compromised via unauthorized GitLab access.<\/p>\n<p style=\"font-weight: 400\">This compromise resulted in the theft of 600 million GMEE tokens worth approximately $15.28 million at the time of the exploit. The compromised tokens were immediately converted to <a href=\"https:\/\/uniquehot.com\/news\/crypto-ftx-celsius-matic-eth-wbtc\/\" target=\"_blank\" rel=\"noopener \">ETH and MATIC<\/a> and exchanged via various decentralized exchanges (DEXs) in the following hours, drastically impacting the GMEE token price.<\/p>\n<p style=\"font-weight: 400\">The team behind GAMEE explained that after noticing the Polygon GMEE deployer address was compromised, they secured the token contract ownership and all associated contracts by transferring ownership to a \u201cnew secure address.\u201d<\/p>\n<p style=\"font-weight: 400\">The team also clarified that only proprietary team token reserves were affected, and the exploit did not affect assets owned by the community, as \u201cGAMEE does not custody or manage any community-owned assets.\u201d<\/p>\n<p style=\"font-weight: 400\">GAMEE expressed its understanding of how the impact of the unauthorized transactions could have affected the GAMEE community, as it led to price volatility and limited use of the GMEE token while investigations were taking place.<\/p>\n<p style=\"font-weight: 400\">The next steps for GAMEE will consist of an impacted user identification process to evaluate the best way to support the affected part of the community. Additionally, they plan to provide a real-time update on the details that further investigations will provide as an effort to keep trust and transparency.<\/p>\n<p style=\"font-weight: 400\">Lastly, the user was advised to exercise caution \u201cgiven the volatile market conditions and potential liquidity impacts driven by CEX measures.\u201d<\/p>\n<h2 style=\"font-weight: 400\">GMEE&#8217;s Violent Price Drop<\/h2>\n<p style=\"font-weight: 400\">Around the time of <a href=\"https:\/\/uniquehot.com\/huobi-ht\/inside-job-suspected-as-huobi-wallet-falls-victim-to-263000-exploit\/\" target=\"_blank\" rel=\"noopener \">the exploit<\/a>, the GMEE token had been trading at $0.02554112, according to CoinGecko\u2019s data, and it had been previously sitting at the $0.027-$0.026 range throughout the weekend.<\/p>\n<p style=\"font-weight: 400\">Shortly after the exploit, the prince crashed to $0.01155577, reaching its lowest point of $0.00897251 in the early hours of today.<\/p>\n<p style=\"font-weight: 400\">It&#8217;s worth noting that many saw the price crash as a possibly once-in-a-lifetime opportunity to profit. Various users shared that they had bought the dip and even advised others to do it. One X user <a href=\"https:\/\/x.com\/cryptomoooooooo\/status\/12476122?s=61&amp;t=mtZSN0o6iCY-w9O1_1dRoQ\" target=\"_blank\" rel=\"noopener nofollow\">said<\/a>, \u201cOne man\u2019s trash is another man\u2019s treasure.\u201d<\/p>\n<p style=\"font-weight: 400\">At writing time, the GMEE token trades at $0.016999, a 31.5% decline in the last 24 hours.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/defi\/avalanche-based-stars-arena-falls-victim-to-a-3-million-exploit-tvl-tanks-by-100\/\" target=\"_blank\" rel=\"noopener \">Avalanche-Based Stars Arena Falls Victim To A $3 Million Exploit, TVL Tanks By 100%<\/a><\/div>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-571062 aligncenter\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/GMEEUSDT_2024-01-23_13-26-14.png?resize=1024%2C430\" alt=\"GMEEUSDT, GMEE \" width=\"1024\" height=\"430\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/GMEEUSDT_2024-01-23_13-26-14.png?w=1054 1054w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/GMEEUSDT_2024-01-23_13-26-14.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/GMEEUSDT_2024-01-23_13-26-14.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/GMEEUSDT_2024-01-23_13-26-14.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/GMEEUSDT_2024-01-23_13-26-14.png?w=750 750w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<pre>GAMEE is currently trading at $0.016999 in the hourly chat. Source: GMEEUSDT on <a href=\"https:\/\/www.tradingview.com\/x\/vUHPKBXL\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<div class=\"disclaimer-shortcode\">Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The play-and-own mobile gaming platform GAMEE suffered an exploit of its GMEE token contracts on Polygon that led to the theft of 600 million GMEE tokens and left the crypto community pondering questions. Related Reading: Solana-Based Aurory Suffers Devastating Exploit: 80% Of Liquidity Gone GAMEE Confirms $15M Exploit On Polygon On January 22, GAMEE Token\u2019s official X (formerly Twitter) account advised its users to refrain from engaging with the digital asset while their team investigated the GMEE token-related security comprise it had just suffered. The GMEE token is an ERC-20 utility token \u201cdesigned to be the currency of access, action, and governance within the GAMEE ecosystem,\u201d as their website states. \ud83d\udea8 $GMEE | URGENT There has been a security incident involving the GMEE token. As a precautionary measure, we advise all users to refrain from engaging with $GMEE until further notice. Our team is actively investigating the situation, and updates will be provided soon. &mdash; GMEE Token (@GAMEEToken) January 22, 2024 Before the official announcement, crypto users quickly noticed the token\u2019s sudden price crash and the transactions behind it. This left GAMEE users and the general crypto community wondering if an exploit had occurred. In the early hours of January 23, GAMEE\u2019s team returned to the X platform to explain what happened and the steps to come. The thread explains that their preliminary investigation indicated that the GMEE token contracts on Polygon had been compromised via unauthorized GitLab access. This compromise resulted in the theft of 600 million GMEE tokens worth approximately $15.28 million at the time of the exploit. The compromised tokens were immediately converted to ETH and MATIC and exchanged via various decentralized exchanges (DEXs) in the following hours, drastically impacting the GMEE token price. The team behind GAMEE explained that after noticing the Polygon GMEE deployer address was compromised, they secured the token contract ownership and all associated contracts by transferring ownership to a \u201cnew secure address.\u201d The team also clarified that only proprietary team token reserves were affected, and the exploit did not affect assets owned by the community, as \u201cGAMEE does not custody or manage any community-owned assets.\u201d GAMEE expressed its understanding of how the impact of the unauthorized transactions could have affected the GAMEE community, as it led to price volatility and limited use of the GMEE token while investigations were taking place. The next steps for GAMEE will consist of an impacted user identification process to evaluate the best way to support the affected part of the community. Additionally, they plan to provide a real-time update on the details that further investigations will provide as an effort to keep trust and transparency. Lastly, the user was advised to exercise caution \u201cgiven the volatile market conditions and potential liquidity impacts driven by CEX measures.\u201d GMEE&#8217;s Violent Price Drop Around the time of the exploit, the GMEE token had been trading at $0.02554112, according to CoinGecko\u2019s data, and it had been previously sitting at the $0.027-$0.026 range throughout the weekend. Shortly after the exploit, the prince crashed to $0.01155577, reaching its lowest point of $0.00897251 in the early hours of today. It&#8217;s worth noting that many saw the price crash as a possibly once-in-a-lifetime opportunity to profit. Various users shared that they had bought the dip and even advised others to do it. One X user said, \u201cOne man\u2019s trash is another man\u2019s treasure.\u201d At writing time, the GMEE token trades at $0.016999, a 31.5% decline in the last 24 hours. Related Reading: Avalanche-Based Stars Arena Falls Victim To A $3 Million Exploit, TVL Tanks By 100% GAMEE is currently trading at $0.016999 in the hourly chat. Source: GMEEUSDT on TradingView.com Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":571063,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[8323,8852,91296,91297,91294,91298,91295,40670,86787],"class_list":["post-571060","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-eth","tag-exploit","tag-gamee","tag-gamee-exploit","tag-gmee","tag-gmee-token","tag-gmeeusdt","tag-matic","tag-polygon-matic"],"acf":[],"yoast_head":"\n<title>Exploit On Polygon Contracts Extract $15M, Here Are The Details<\/title>\n<meta name=\"description\" content=\"Yesterday, a $15M exploit on GAMEE Token contracts on Polygon drove the GMEE token to a violent price crash.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. In summary, Rubmar seeks to present entertaining and educational pieces to be enjoyed by everybody, aiming to report on the latest news and offer a unique perspective while adding a meme or a pun whenever possible.\",\"url\":\"https:\/\/uniquehot.com\/author\/rubmargarcia\/\"}]}<\/script>\n","yoast_head_json":{"title":"Exploit On Polygon Contracts Extract $15M, Here Are The Details","description":"Yesterday, a $15M exploit on GAMEE Token contracts on Polygon drove the GMEE token to a violent price crash.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/uniquehot.com\/news\/exploit-on-polygon-contracts-extract-15m-here-are-the-details\/","og_locale":"en_US","og_type":"article","og_title":"Exploit On Polygon Contracts Extract $15M, Here Are The Details","og_description":"Yesterday, a $15M exploit on GAMEE Token contracts on Polygon drove the GMEE 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