Coinbase, one of the leading cryptocurrency exchanges in the United States, issued another statement about altcoin trading, stating that transactions for the altcoin called PlayDapp (PLA) will be suspended.

You might also be interested in this article: Solana’s market cap overtakes BNB, secures 4th position

In the statement made by the Exchange;
“In light of recent updates on the PlayDapp (PLA) smart contract, we have suspended PLA trading and transfers on Coinbase.com, Coinbase Prime, Advanced Trade and Coinbase Exchange platforms. We will continue to follow developments related to PLA from the issuer and provide updates as more information becomes available to our customers.”

In light of recent updates involving the use of “Pause” functionality on the PlayDapp (PLA) smart contract, we have suspended trading and transfers of PLA across https://t.co/CD3RBjtMAO, Coinbase Prime, Advanced Trade and Coinbase Exchange.

— Coinbase Assets (@CoinbaseAssets) February 14, 2024

The company suspended PLA trading following its announcement that PlayDapp was hacked.

In the announcement made by PlayDapp, it was stated “Upon confirmation of the hacker attack, it immediately took action by applying to major central exchanges with a request to urgently suspend deposit and withdrawal transactions and reported the incident to investigative authorities”.

Following this negative news, PLA recorded a drop of up to 13% in the last 24 hours and is currently continuing to trade at $0.139.

In the comment section, you can freely share your comments about the topic. Additionally, don’t forget to follow us on Telegram, YouTube, and Twitter for the latest news and updates.

The post Coinbase Exchange Decision on PlayDapp (PLA)! appeared first on Coin Engineer.

A major security breach has rocked the PlayDapp ecosystem, causing chaos and financial losses for its users. Blockchain security firm CertiK detected a compromise of PlayDapp’s private keys, leading to the unauthorized creation of 200 million PLA tokens.

Millions Minted, Value Melts

This unauthorized minting event significantly inflated the PLA token supply, triggering a rapid 20% price drop. This crash brought PLA to its lowest point since October, leaving investors reeling.

PlayDapp Remains Silent

Despite the severity of the incident, PlayDapp has yet to issue an official statement or update their community. This lack of communication amplifies user concerns and raises questions about the platform’s transparency and crisis management capabilities.

[Notice of PLA Wallet Transfer]

Due to a confirmed security breach affecting PLA, PlayDapp is taking immediate action to safeguard PLA assets. This involves the mandatory transfer of ALL PlayDapp-held PLA to a new, secure wallet. This includes both locked and unlocked holdings.

— PlayDapp (@playdapp_io) February 10, 2024

Wider Impact on Dapp Ecosystem

The breach extends beyond PlayDapp, with the total value locked (TVL) on the platform dropping nearly 14%. While the number of active wallets shows a surprising increase, it’s overshadowed by the overall decline in asset value.

You can present your own thoughts as comments about the topic. Moreover, you can follow us on Telegram and YouTube channels for this kind of news.

The post PlayDapp Hack: 200 Million PLA Minted, Token Value Plummets 20% appeared first on Coin Engineer.

PlayDapp for Game Developers

PlayDapp enables game developers to easily transition their games to the blockchain and also take place in the NFT market. It also provides developers with the following tools:

• Play Dapp SDK: Developer tools that assist developers in tying their in-game assets as NFTs and integrating their systems with the PlayDapp platform.
• C2C Market Place: A marketplace where developers can list their in-game assets as NFTs, and players can trade with each other.
• PLA Token: A cryptocurrency that developers can receive in in-game purchases and use as they wish.

You might like: Binance and Ronaldo Launch Third NFT Series!

PlayDapp for Players

It allows players to enjoy blockchain games and make their in-game assets valuable. PlayDapp offers players the following opportunities:

• Play-to-Earn Incentives: Players can earn PLA tokens as rewards for in-game activities and compete in ranked PVP battles.
• NFT Portfolio: Players can purchase, trade, or stake their in-game assets as NFTs. Additionally they can increase the value of their NFTs by leveling up, enhancing, and merging them.
• Diverse Games: Players can find and experience blockchain games of different genres and themes on the PlayDapp platform.

Where to Buy PlayDapp?

PLA, the native token of PlayDapp, is an Ethereum-based ERC-20 token. You can purchase PLA token on exchanges such as Binance, Gate.io.

PlayDapp Market Data

Total Supply: 700,000,000 PLA
Max. Supply: 700,000,000 PLA

Final Words About PlayDapp

Additionally PlayDapp, revitalizing the blockchain gaming industry, offers an ecosystem advantageous for game developers and players alike. Utilizing NFT technology, it makes in-game assets valuable and widely accessible, thus unveiling the potential and shaping the future of blockchain games.

In the comment section, you can freely share your comments about the topic. Additionally, don’t forget to follow us on Telegram, YouTube, and Twitter for the latest news and updates.

The post What is PlayDapp (PLA) ? What Does It Do? appeared first on Coin Engineer.