Announcement regarding the discontinuation of trading support for PDA by Digital Asset eXchange Alliance (DAXA) members — Upbit and Bithumb Exchanges

PlayDapp is deeply disappointed by the decision to discontinue trading support for PDA by Digital Asset eXchange Alliance (DAXA) members — Upbit and Bithumb Exchanges — on March 11th. They added PlayDapp to the cautionary watchlist on February 13th, and subsequently, PlayDapp has provided sufficient evidence regarding security enhancement measures and investor protection measures to facilitate trading support on Korean exchanges.

In response to the hacking incident and in an effort to minimize investor losses, PlayDapp has established a migration plan and implemented enhanced security measures on a new smart contract, including the integration of multi-signature implementation, snapshot, pause, and burn authority separation for management while removing minting authority.

Additionally, PlayDapp estimated the extent of the damage caused by the hacking incident and provided evidence by setting up a relief fund to facilitate recovery. However, the decision to terminate trading support was made despite considering the recovery plan.

This month, we will announce our new strategies and directions for the future. This will include plans for the PlayDapp Mainnet, a comprehensive overhaul of Tournaments and our Marketplace, and the launch of new mobile play-to-earn (P2E) games. We promise to turn this hacking incident into an opportunity for growth and to emerge as a stronger global project.