Gala Games Founders Feud Over Millions of Dollars Worth of Misused Tokens

In a dramatic turn of events, the founders of Gala Games, a popular blockchain gaming platform, find themselves embroiled in a bitter feud over millions of dollars’ worth of misused tokens. This dispute has caught the attention of the crypto community and has become a hot topic of conversation. The founders, who were once united in their vision for the platform, now stand divided as allegations of token mismanagement and misappropriation fly back and forth. With such high stakes involved, this controversy has captured the interest of investors, gamers, and blockchain enthusiasts alike. Stay tuned to see how this dispute unfolds and what impact it may have on Gala Games and the wider blockchain gaming industry.

The Battle between Gala Games Co-Founders: Allegations of Theft and Mismanagement

Gala Games, a prominent Web3 gaming startup known for its mobile RPG Champions Arena, has been embroiled in a bitter dispute between its co-founders, Wright Thurston and Eric Schiermeyer. This power struggle has resulted in both parties trying to remove each other from the board of directors. This conflict has put a spotlight on alleged theft and mismanagement within the company.

The Alleged Theft of GALA Tokens

In a lawsuit filed by Schiermeyer on behalf of Gala Games, he accuses Thurston of using his investment firm True North United Investments to move approximately $130 million worth of GALA tokens out of company wallets. These tokens were then transferred across 43 other wallets belonging to Thurston and his investment company.

It is alleged that Thurston sold some of these tokens between September 2022 and May 2023, with the proceeds being used to purchase ammunition. The extent and fate of the remaining tokens are currently unknown.

The lawsuit also claims that the amount of tokens moved by Thurston exceeded the total supply of tokens in circulation at the time.

Questions Surrounding GALA v2 Launch

These suspicious activities could be linked to the launch of GALA v2 in May 2023. Some speculate that the purpose of this launch was to deprecate any remaining stolen assets, although this theory is unconfirmed.

Thurston’s Response and Allegations

In response to Schiermeyer’s lawsuit, Thurston filed a counterclaim accusing his co-CEO of damaging Gala Games’ reputation and finances. Thurston alleges that Schiermeyer misused company funds, including making installment payments towards a private jet. Thurston also claims that Schiermeyer ran the company without consulting him, leading to negative consequences.

Furthermore, Thurston is currently facing legal issues with the SEC regarding Green United LLC, another company of his. The SEC alleges that the GREEN token associated with Green United LLC may not exist at all. Thurston and other defendants have argued that the SEC has no jurisdiction over digital assets.

The battle between the Gala Games co-founders reflects a larger issue within the company and has raised concerns about the security and management of digital assets in the gaming industry.

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