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). –
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Griffin AI crashes 90% as attacker mints 5B coins after Binance Alpha debut
Sep, 25, 2025
3 min read
by Newton Gitonga
for Invezz
Griffin (AI (GAIN) has suffered a devastating exploit within a day of listing on Binance Alpha, the platform for spotlighting new projects.
GAIN lost more than 90% of its value hours after its debut following a destructive attack that dented investor sentiments and the project’s latest product rollout.
The official update revealed:
Several hours ago, GAIN (BNB Chain) experienced abnormal minting and dumping, leading to a sharp price drop.
The incident gained attention as it came when Griffin AI continued to position itself as a dominant player in merging decentralized finance (DeFi) and artificial intelligence (AI).
On September 23, the innovative firm introduced its Transaction Execution Agent Turbo to enrich DeFi accessibility execution through plain commands.
For instance, users can execute by simply saying “swap 40% of my stablecoin balance to BNB.”
The AI-powered tool aims to simplify tasks like swapping, lending, and yield farming.
However, the promising start met a harsh reality amid unpredictable minting.
How the attack happened
The teams’ scrutiny discovered that one wallet minted 5 billion GAIN coins on the BNB Chain.
That suddenly inflated the total supply by over 1,600% to 5.2985 billion tokens.
The perpetrator quickly sold 147.5 million GAIN for 2,955 BNB tokens using Binance’s leading DEX PancakeSwap. Here’s how the incident unfolded:
- The perpetrator introduced an illicit LayerZero peer model.
- He then deployed a counterfeit Ethereum contract.
- The attacker added the wallet as LayerZero’s peer for GAIN’s ETH endpoint, replacing the official Ether token.
- They used the fake peer to mint 5 billion GAIN tokens on BNB Chain and started selling them.
The Griffin AI team reacted swiftly to limit damages, removing GAIN’s official liquidity on BNB Chain.
They warned:
Please DO NOT interact with any LPs that may be created by the attacker. They are not official and pose a risk. D
Griffin AI’s innovation overshadowed
The massive exploit emerged hours after the project highlighted its recently (September 23) launched AI-powered agent as a milestone in simplifying DeFi.
📢 TEA Turbo is live on @BNBCHAIN @BNBCHAINZH! The process is designed to be simple and intuitive: 1️⃣ State your intent in plain language 2️⃣ TEA Turbo validates balances, finds liquidity & calculates outputs 3️⃣ You approve the proposal in your wallet 📒 Key features: Verifies
The TEA Turbo agent promised easier access to lending, portfolio management, and trading.
It leverages automated on-chain interactions through daily languages.
While the innovative product gains attention, the exploit has overshadowed the lucrative benefits.
GAIN price outlook
The altcoin trades at $0.01767 and exhibits significant selling momentum on its daily chart.
GAIN’s trading volume has exploded as market players seek trading opportunities amid the brutal price declines.
The token will likely plunge further in the coming hours.
Meanwhile, the teams’ response in solving the exploit will determine GAIN’s future performance.
Restoring user trust could trigger recoveries, considering the unique niche (AI-DeFi) that Griffin AI plans to democratize.
The post Griffin AI crashes 90% as attacker mints 5B coins after Binance Alpha debut appeared first on Invezz
Read More
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Sep, 25, 2025
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Griffin AI crashes 90% as attacker mints 5B coins after Binance Alpha debut
Sep, 25, 2025
3 min read
by Newton Gitonga
for Invezz
Griffin (AI (GAIN) has suffered a devastating exploit within a day of listing on Binance Alpha, the platform for spotlighting new projects.
GAIN lost more than 90% of its value hours after its debut following a destructive attack that dented investor sentiments and the project’s latest product rollout.
The official update revealed:
Several hours ago, GAIN (BNB Chain) experienced abnormal minting and dumping, leading to a sharp price drop.
Several hours ago GAIN (BNB chain) experienced abnormal minting and dumping, leading to a sharp price drop. Our investigation confirms the cause: – An unauthorized LayerZero peer setup was introduced. – The attacker deployed a fake Ethereum contract ($TTTTT at 0x7a8caf). –
The incident gained attention as it came when Griffin AI continued to position itself as a dominant player in merging decentralized finance (DeFi) and artificial intelligence (AI).
On September 23, the innovative firm introduced its Transaction Execution Agent Turbo to enrich DeFi accessibility execution through plain commands.
For instance, users can execute by simply saying “swap 40% of my stablecoin balance to BNB.”
The AI-powered tool aims to simplify tasks like swapping, lending, and yield farming.
However, the promising start met a harsh reality amid unpredictable minting.
How the attack happened
The teams’ scrutiny discovered that one wallet minted 5 billion GAIN coins on the BNB Chain.
That suddenly inflated the total supply by over 1,600% to 5.2985 billion tokens.
The perpetrator quickly sold 147.5 million GAIN for 2,955 BNB tokens using Binance’s leading DEX PancakeSwap. Here’s how the incident unfolded:
- The perpetrator introduced an illicit LayerZero peer model.
- He then deployed a counterfeit Ethereum contract.
- The attacker added the wallet as LayerZero’s peer for GAIN’s ETH endpoint, replacing the official Ether token.
- They used the fake peer to mint 5 billion GAIN tokens on BNB Chain and started selling them.
The Griffin AI team reacted swiftly to limit damages, removing GAIN’s official liquidity on BNB Chain.
They warned:
Please DO NOT interact with any LPs that may be created by the attacker. They are not official and pose a risk. D
Griffin AI’s innovation overshadowed
The massive exploit emerged hours after the project highlighted its recently (September 23) launched AI-powered agent as a milestone in simplifying DeFi.
📢 TEA Turbo is live on @BNBCHAIN @BNBCHAINZH! The process is designed to be simple and intuitive: 1️⃣ State your intent in plain language 2️⃣ TEA Turbo validates balances, finds liquidity & calculates outputs 3️⃣ You approve the proposal in your wallet 📒 Key features: Verifies
The TEA Turbo agent promised easier access to lending, portfolio management, and trading.
It leverages automated on-chain interactions through daily languages.
While the innovative product gains attention, the exploit has overshadowed the lucrative benefits.
GAIN price outlook
The altcoin trades at $0.01767 and exhibits significant selling momentum on its daily chart.
GAIN’s trading volume has exploded as market players seek trading opportunities amid the brutal price declines.
The token will likely plunge further in the coming hours.
Meanwhile, the teams’ response in solving the exploit will determine GAIN’s future performance.
Restoring user trust could trigger recoveries, considering the unique niche (AI-DeFi) that Griffin AI plans to democratize.
The post Griffin AI crashes 90% as attacker mints 5B coins after Binance Alpha debut appeared first on Invezz
Read More
Lista DAO (LISTA) introduces 30% APR ceiling to curb borrowing costs
Decentralized lending and stablecoin protocol, Lista DAO, has announced a key upgrade...
Sep, 25, 2025
3 min read
by Invezz