An attacker was able to gain access to the Gamee (GMEE) token’s source code repository, then exploit a vulnerability in the code to transfer 600 million GMEE tokens to their own wallets. At the token’s market price of $0.025 before the hack, these tokens were ostensibly priced at $15 million, though the token value plunged around 60% to below $0.01 following the theft as the attacker began selling the tokens.
GMEE is the token belonging to the Gamee blockchain-based gaming platform, which was acquired by the Animoca Brands company in 2020. Animoca is mostly known for its crypto-metaverse project, The Sandbox.
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