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Hacker Mints 5B GAIN Tokens, Triggers 95% Price Crash

Hacker Mints 5B GAIN Tokens, Triggers 95% Price Crash

GAIN's price surges by 800% following a significant price collapse due to an abnormal minting event, with the token's team investigating the exploit.

ETH
BNB

Summary

GAIN's price surged to $0.045 after recovering 800% from its lowest point, settling at $0.0364. This follows a dramatic 95% price drop triggered by the minting of 5 billion tokens by a specific address, which later sold 150 million GAIN for 2,955 BNB and swapped it to ETH. The GAIN team is investigating the incident.

Terms & Concepts
  • deBridge: A cross-chain bridge that enables the transfer of tokens between different blockchains.
  • BNB: The native cryptocurrency of the Binance blockchain, primarily used for transaction fees and in decentralized applications.
  • ETH: The native cryptocurrency of the Ethereum blockchain, widely used for decentralized applications and smart contracts.