Gamee, a blockchain gaming project backed by Animoca Brands, has confirmed a major security breach affecting its $GMEE token contracts on Polygon. Attackers gained unauthorized access to the deployer address and made off with 600 million tokens — worth roughly $15 million at the time of the theft. The token price dropped 64% in the immediate aftermath.
"Over the next few hours, the exploiter exchanged the compromised tokens via various DEXs, impacting the GMEE token price across various exchanges. The exploit affected proprietary team token reserves only, and no community-owned assets have been compromised. Gamee does not custody or manage any community-owned assets."
The breach occurred around 6:31 p.m. UTC on Tuesday after the attacker compromised GitLab credentials earlier that day. Gamee locked down all unauthorized access to the token contracts shortly after detection. The stolen tokens were quickly converted to $ETH and $MATIC through multiple decentralized exchanges, causing $GMEE to plummet below $0.01 on CoinGecko.
Gamee clarified that only internal team token reserves were affected. No player-owned assets were touched. The project doesn't hold custody of community funds, so the damage stayed limited to Gamee's own holdings.
Gamee is now working to identify any users indirectly affected by the price crash and considering ways to support its community through the fallout. The team says it's tightening security protocols to prevent similar incidents going forward.
The breach highlights ongoing security risks in web3 gaming. Token contract vulnerabilities remain a real threat, and this incident is a reminder that blockchain gaming platforms need constant vigilance. Securing smart contracts and access credentials isn't optional — it's the baseline for keeping player trust intact.
