Griffin AI crashes 90% as attacker mints 5B coins after Binance Alpha debut

Griffin AI (GAIN) cryptocurrency plummeted over 90% within hours of its Binance Alpha listing debut after a catastrophic security exploit allowed attackers to mint 5 billion unauthorized tokens. The devastating attack highlights ongoing vulnerabilities in emerging DeFi projects and new cryptocurrency launches on major exchanges.

The blockchain exploit occurred shortly after Griffin AI's highly anticipated listing on Binance Alpha, the platform's showcase for promising new crypto projects. Attackers exploited smart contract vulnerabilities to artificially inflate the token supply by minting billions of additional GAIN tokens, causing massive price dilution and market panic.

This cryptocurrency crash demonstrates the inherent risks associated with newly launched digital assets and the importance of thorough security audits before exchange listings. The incident severely damaged investor confidence and derailed Griffin AI's product rollout plans. The exploit serves as a stark reminder that even projects featured on reputable platforms like Binance Alpha remain susceptible to smart contract vulnerabilities and malicious attacks, emphasizing the need for enhanced blockchain security measures in the rapidly evolving cryptocurrency ecosystem.