Coinbase Suspends PlayDapp Trading After Hack, PLA Price Reacts

Coinbase has decided to suspend the trading of PlayDapp’s token following a recent hack that resulted in the theft of 200 million PLA tokens. PlayDapp immediately contacted partnered exchanges to protect the assets of its users, and Coinbase responded by temporarily suspending trading and transfers of PLA. The investigation into the hack is ongoing, with PlayDapp collaborating with exchanges, security firms, and law enforcement agencies. The platform has also asked decentralized exchanges to pause all liquidity and pool activities associated with PLA. The team attempted to negotiate with the hacker to recover the stolen funds, but the hacker showed no willingness to help. As a result, an additional 1.59 billion PLA tokens were issued. PlayDapp is now tracking the hacker’s activities and is working on a migration process to mitigate further attacks. The price of PLA initially dropped after the hack but experienced a small surge after the migration plan update.