Verify a decision

{"actor":"system:backfill","investigation_id":"26f2ef03-5f38-487a-86f0-3d1b056eb4f4","kind":"publish","page_slug":"pnetwork","published_at":"2026-05-25T18:20:02.523Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"pNetwork","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://medium.com/pnetwork/introducing-ptokens-provable-portable-pegged-70911e200933","type":"other","url":""},{"credibility":3,"name":"https://www.bitget.com/price/pnetwork/what-is","type":"other","url":""},{"credibility":3,"name":"https://medium.com/pnetwork/pnetwork-powered-bridges-a-force-to-be-reckoned-with-fb5fb325d257","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.halborn.com/blog/post/explained-the-pnetwork-hack-september-2021","type":"other","url":""},{"credibility":3,"name":"https://medium.com/pnetwork/pnetwork-post-mortem-pbtc-on-bsc-exploit-170890c58d5f","type":"other","url":""},{"credibility":3,"name":"https://cryptoslate.com/12-million-stolen-after-binance-smart-chain-defi-pnetwork-gets-hacked/","type":"other","url":""},{"credibility":3,"name":"https://decrypt.co/81301/defi-bridging-protocol-pnetwork-suffers-12-million-hack","type":"other","url":""},{"credibility":3,"name":"https://www.coindesk.com/business/2021/09/20/cross-chain-protocol-pnetwork-loses-12m-to-hack","type":"other","url":""},{"credibility":3,"name":"https://www.theblock.co/post/118060/defi-pnetwork-hack-wrapped-bitcoin-12-million-lost","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.theblock.co/post/182969/developers-of-pnetwork-bridge-drain-4-3-million-from-pancakeswap-in-white-hat-attack","type":"other","url":""},{"credibility":3,"name":"https://cointelegraph.com/news/report-gala-token-exploit-resulted-from-public-leak-of-private-key-on-github","type":"other","url":""},{"credibility":3,"name":"https://www.securities.io/huobi-says-pnetwork-hacked-gala-in-a-premeditated-attack-to-make-profits/","type":"other","url":""},{"credibility":3,"name":"https://cryptoslate.com/per-huobi-alleges-pnetwork-made-over-4m-from-its-gala-white-hat-attack/","type":"other","url":""},{"credibility":3,"name":"https://medium.com/pnetwork/lessons-learnt-from-the-pgala-exploit-50e686730b98","type":"other","url":""},{"credibility":3,"name":"https://thedefiant.io/news/defi/pnetwork-misconfiguration-gala-1b-hack","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.prnewswire.com/news-releases/gala-sues-pnetwork-on-behalf-of-pgala-victims-301775263.html","type":"other","url":""},{"credibility":3,"name":"https://www.coindesk.com/tech/2023/04/03/huobi-and-gala-games-to-give-50m-to-victims-of-pgala-scheme","type":"other","url":""},{"credibility":3,"name":"https://playtoearn.com/news/gala-games-files-28-million-lawsuit-against-pnetwork-over-code-misconfiguration","type":"other","url":""},{"credibility":3,"name":"https://cryptorank.io/news/feed/682bd-178077-huobi-and-gala-games-file-lawsuit-pnetwork","type":"other","url":""},{"credibility":3,"name":"https://cryptonews.net/news/gamefi/20692175/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.halborn.com/blog/post/explained-the-pnetwork-hack-september-2021","type":"other","url":""},{"credibility":3,"name":"https://cointelegraph.com/news/report-gala-token-exploit-resulted-from-public-leak-of-private-key-on-github","type":"other","url":""},{"credibility":3,"name":"https://medium.com/pnetwork/pnetwork-post-mortem-pbtc-on-bsc-exploit-170890c58d5f","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.coingecko.com/en/coins/pnetwork","type":"other","url":""},{"credibility":3,"name":"https://defillama.com/protocol/pnetwork","type":"other","url":""},{"credibility":3,"name":"https://github.com/pnetwork-association","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://twitter.com/pnetworkdefi/status/1409910381896667136","type":"other","url":""}]}],"sources_used":[],"summary":"pNetwork is a cross-chain bridge and interoperability protocol built on the pTokens architecture, enabling assets to move between Bitcoin, Ethereum, BNB Chain, and other networks via wrapped synthetic tokens. The protocol has suffered two major security incidents — a September 2021 pBTC-on-BSC hack losing approximately $12 million, and a November 2022 pGALA incident that triggered a $28 million lawsuit by Gala Games and Huobi alleging pNetwork's own engineers caused the vulnerability through a leaked private key, then allegedly profited from a self-described 'white hat' rescue. As of 2025, the PNT governance token trades at a fraction of its 2021 peak and the protocol operates with negligible market capitalization and trading volume.","timeline":[{"date":"2020-03-01","event":"pNetwork launches its first cross-chain bridge connecting Bitcoin and Ethereum, enabling pBTC minting.","source":""},{"date":"2019-05-01","event":"Provable Things (formerly Oraclize), the company behind pNetwork's technology, merges with Poseidon Group.","source":""},{"date":"2021-09-19","event":"Attacker exploits event-log validation bug in pBTC-on-BSC bridge, stealing 277 BTC (~$12 million). Other bridges unaffected.","source":""},{"date":"2021-09-20","event":"pNetwork publicly discloses the hack, patches the bug, deactivates all cross-chain bridges, and offers a $1.5 million bounty for return of funds.","source":""},{"date":"2022-08-28","event":"A pNetwork engineer allegedly commits a plaintext private key controlling the pGALA contract's admin and minter roles to a public GitHub repository, creating the vulnerability exploited in November 2022.","source":""},{"date":"2022-11-03","event":"pNetwork mints 55.6 billion pGALA tokens on BNB Chain and dumps them on PancakeSwap, crashing GALA price by 94–97% and draining ~$4.3–4.5 million from the liquidity pool. pNetwork characterizes this as a white hat rescue; Huobi alleges it was a premeditated attack for profit.","source":""},{"date":"2022-11-04","event":"pNetwork issues post-mortem citing a smart contract misconfiguration and defending the white hat action. BlockSec on-chain analysis confirms the leaked private key as root cause.","source":""},{"date":"2023-03-20","event":"Gala Games files a $28 million negligence and tortious interference lawsuit against pNetwork on behalf of pGALA victims, citing over $25 million in out-of-pocket costs.","source":""},{"date":"2023-04-03","event":"Huobi and Gala Games announce a joint $50 million compensation plan for affected users and confirm joint legal action against pNetwork.","source":""},{"date":"2025-01-01","event":"PNT token trades at approximately $0.0005, with a market cap of roughly $47,000 and near-zero daily trading volume, representing a decline of over 99.9% from 2021 highs.","source":""}]},"v":1}