Animoca Brands’ popular game Benji Bananas announced on July 17, 2023 the launch of a new token, BENJI, which will replace the existing PRIMATE token. The decision was made after a security breach months ago led to the theft of approximately 30 million PRIMATE tokens, representing 20% ​​of the tokens in circulation.

The new BENJI token aims to ensure that the future of the Benji ecosystem is built on a strong foundation. The tokenomics, total token amount, and circulation will remain the same as the existing amounts of the PRIMATE token. The BENJI token will be used in future Play-and-Earn (P&E) events and in the broader Benji Bananas ecosystem.

The change from PRIMATE to BENJI will be available soon on the Benji Bananas website. PRIMATE holders are recommended to exchange their tokens for BENJI in a 1:1 ratio. The amount available for exchange is determined by the amount in the snapshot and the amount currently held in the wallet.

The BENJI token is expected to be listed on Huobi on or before July 31, 2023.

This development comes in the wake of growing security concerns in the crypto gaming industry. A report from blockchain cybersecurity auditor Hacken has warned that play-to-win (P2E) crypto games often put profit before security, leaving them vulnerable to hacking attacks. The report highlighted that of the 31 GameFi tokens studied, none received the highest security rating AAA, while 16 received the worst D rating.

In March 2022, Axie Infinity, a popular P2E game, suffered a major security breach that resulted in a loss of over $600 million worth of tokens. The US government, with the help of cryptanalysis firm Chainalysis, recovered around $30 million of the stolen funds.

The Benji Bananas ecosystem launching a new token again underscores the importance of strong security measures in the cryptocurrency gaming industry.

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