GalaChain experienced a $2.9 million security incident, with most of the funds coming from the CEO's associated wallet

According to encryption journalist Kate Irwin, GalaChain experienced an abnormal outflow of assets on Tuesday, with 1.99 billion GALA and other tokens transferred to a new wallet. About 82% of GALA and $500000 of other tokens came from CEO and co-founder Eric Schiermeyer's associated wallet. GalaChain developers subsequently submitted repair code for GalaChain's EIP-712 vulnerability on GitHub.