Gala
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anchored·5xy15L…6crvSummary
Gala Games is a blockchain gaming platform founded in 2019 by Eric Schiermeyer and Wright Thurston whose GALA token has been at the center of two major controversies: a 2023 civil lawsuit alleging Thurston stole 8.6 billion GALA tokens (~$130M) from company wallets, and a separate May 2024 smart contract exploit in which an unauthorized minter minted 5 billion tokens worth approximately $200M. Both co-founders have filed competing civil suits alleging misappropriation of hundreds of millions of dollars, while Thurston also faces an unrelated SEC fraud action over a separate crypto mining venture.
Connected Entities
7 entities · 60 linked investigations- Ethereum→mentioned with→Coinbase(60%)
- Ethereum→mentioned with→Bitcoin(60%)
- Uniswap→mentioned with→Bitcoin(60%)
- Uniswap→mentioned with→Ethereum(80%)
- Gala→mentioned with→Bitcoin(60%)
- Coinbase→mentioned with→Bitcoin(65%)
- Gala→mentioned with→Ethereum(65%)
- Gala→mentioned with→Uniswap(70%)
- Gala→mentioned with→Coinbase(70%)
- Gala→mentioned with→Kraken(70%)
- + 6 more
Timeline(14 events)
2019
Gala Games (Blockchain Game Partners, Inc.) founded by Eric Schiermeyer and Wright Thurston
February 2021
Alleged unauthorized transfer of 8.6 billion GALA tokens from company wallets by Wright Thurston, per Schiermeyer's later lawsuit
26 November 2021
GALA token reaches all-time high of approximately $0.84, peak market capitalization in billions of dollars
February 2022
Gala Games introduces Project GYRI / GalaChain, an independent Layer-1 blockchain for the ecosystem
September 2022
Alleged liquidation of stolen GALA tokens begins; Thurston allegedly sells via Coinbase and Kraken through 43 wallets, per lawsuit
31 December 2022
GALA price has declined over 97% from its all-time high, closing year around $0.017
3 March 2023
SEC files fraud charges against Wright Thurston and Green United LLC for alleged $18M crypto mining scam unrelated to Gala
31 May 2023
Alleged liquidation of stolen GALA tokens ends, per Schiermeyer lawsuit; Thurston alleged to have netted approximately $130M
31 August 2023
Eric Schiermeyer and Wright Thurston each file civil lawsuits against the other in U.S. District Court for the District of Utah; Schiermeyer seeks $130M+ recovery, Thurston seeks $750M
4 September 2023
GALA token drops approximately 18.5% on the week as public reporting on the dual lawsuits triggers market FUD
20 May 2024
External attacker mints 5 billion GALA tokens via compromised minter private key; sells ~600M tokens for ~$21-29M on Uniswap; GALA drops ~20% intraday
20 May 2024
Gala Games freezes exploited wallet within 45 minutes; CEO Schiermeyer states 'We messed up our internal controls' and confirms FBI and DOJ engagement
August 2024
Utah District Court denies True North / Thurston motion for preliminary relief that would have replaced Schiermeyer as CEO
30 April 2026
Gala community vote approves disinflationary tokenomics update with fee-sharing and permanent token burns
Decision Log
- slot 457400520 · hash 8HhTGaXHy2NYwk8pYMhEMewr8YYoULvzg6omLUuBZhmd
- slot 426514616 · hash FYJSk432bgRRWedWSAUsErRWehArB3nUPYZ3BfMofKff
- slot 426514612 · hash 3htsLT1JTUBEdjUzvSz9hFEpGaodnj3ReCiMfJrgVLYm
- slot 421012599 · hash F29XkN7sUmUAPUUnXLAGDuzF1hR4S3Ys9ekRdG9XjJN2
This investigation is cryptographically anchored to the Solana blockchain (4 decisions). 17 of 20 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-5
generated: 5/4/2026, 2:54:32 AM
last updated: 8/29/2026, 1:33:54 AM
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