PANews reported on May 22 that, according to the official governance website, the Gala community has initiated a governance proposal for a "temporary GALA token contract upgrade and token burn." The proposal states that due to recent security incidents resulting in the unauthorized minting and sale of approximately 600 million GALA tokens, as well as the permanent locking of approximately 4.4 billion tokens, this proposal aims to formally burn these approximately 4.4 billion GALA tokens and about 600 million GALA tokens from the GALA treasury to ensure the stability and sustainability of the ecosystem. Due to the upgradable nature of the GALA contract, the proposed changes will not require exchanges to perform swaps or re-listings and can be executed without affecting all GALA token users.

This move will involve upgrading the GALA contract, including the explicit and irreversible burning of the same number of unauthorized tokens or tokens deemed illegally obtained by law enforcement, and enhancing the contract's security features to prevent future unauthorized access or breaches.

Previously, it was reported that the Web3 gaming platform Gala Games was hacked yesterday, and subsequently, the Gala Games attacker returned approximately $22.5 million worth of ETH.