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Animoca Brands to Cover Losses From ‘Phantom Galaxies’ Discord Hack
The hack cost users 265 ETH, worth about $1.1 million.
Hong Kong-based gaming software and venture capital firm Animoca Brands said it will cover users’ losses that occurred because of a Nov. 19 hack of the Discord server for its upcoming “Phantom Galaxies” game.
- Animoca Brands said it will cover the loss of 265 ETH, worth about $1.1 million, from the hack involving a game called “Phantom Galaxies” that is being developed by its Australia-based subsidiary, Blowfish Studios.
- Animoca noted there was no evidence that smart contracts were compromised, and no funds were stolen from the game or from its developer or publisher.
- According to the firm, last week hackers managed to access the Discord account of Phantom Galaxies and take over its server. The hackers then posted a fraudulent announcement claiming that the game was launching a non-fungible token (NFT) minting event.
- The hackers directed users to a website charging users a 0.1 ETH fee that sent the funds on to the hackers’ Ethereum address. The total sent was 265 ETH, or roughly, $1.1 million.
- The company said the method for compensating users for their lost ether will be determined after discussions have been held by the Phantom Galaxies community.
- Animoca Brands and Blowfish have apologized for the incident.
Read more: Animoca Brands Leads $18M Series A for Play-to-Earn Upstart Avocado Guild
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Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
