Griffin AI price dumps 90% as attacker mints 5B GAIN tokens
The post Griffin AI price dumps 90% as attacker mints 5B GAIN tokens appeared on BitcoinEthereumNews.com.
Griffin AI’s token GAIN collapsed more than 90% within 24 hours of its launch after an attacker minted 5 billion tokens through a cross-chain exploit, wiping out millions in market value. Summary Griffin AI price plunged 90% within 24 hours of launch. Exploiter minted 5B GAIN tokens using a fake LayerZero peer. Exploit questions raise concerns about contract security and insider risk. The project confirmed on Sept. 25 that an “unauthorized LayerZero peer” was introduced, allowing the attacker to bypass Griffin AI’s official Ethereum endpoint. The exploiter deployed a fake Ethereum (ETH) contract, then added it as a peer for GAIN’s cross-chain setup. This enabled the minting of 5 billion tokens on BNB (BNB) Chain, far exceeding the project’s 1 billion supply cap. Several hours ago GAIN (BNB chain) experienced abnormal minting and dumping, leading to a sharp price drop. Our investigation confirms the cause: – An unauthorized LayerZero peer setup was introduced. – The attacker deployed a fake Ethereum contract ($TTTTT at 0x7a8caf). -… — GriffinAI | The #1 AI Agent Builder for DeFi 🤖 (@Griffin_AI) September 25, 2025 Blockchain data shows that the attacker’s wallet dumped around 147.5 million GAIN on PancakeSwap (CAKE) and over-the-counter trades in under an hour, causing the token price to crash. Analysts estimate the exploiter bridged profits via deBridge to Solana, Ethereum, Base, and Arbitrum, netting between $3-$4 million. Security firm GoPlus flagged the exploit as similar to the recent Yala attack, where a fake LayerZero peer was also used to bypass cross-chain security checks. Market fallout post hack The incident erased nearly $36 million in market capitalization, sending $GAIN from its launch highs near $0.25 to $0.0273 at press time, a 87% plunge. Market cap now stands around $6.4 million. Trading volume surged to nearly $100 million in 24 hours, up 133%…
