Animoca Brands to Cover Losses From ‘Phantom Galaxies’ Discord Hack

Animoca Brands to Cover Losses From ‘Phantom Galaxies’ Discord Hack

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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Originally Posted on: https://www.coindesk.com/business/2021/11/24/animoca-brands-to-cover-losses-from-phantom-galaxies-discord-hack/
By: Tanzeel Akhtar

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