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GriffinAI Removes Official $GAIN Liquidity from BNB Chain for User Protection

GriffinAI Removes Official $GAIN Liquidity from BNB Chain for User Protection

According to Binance, GriffinAI halted on-chain $GAIN liquidity on BNB Chain after a hack, while the exchange assists with analysis and a user compensation plan.

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Fact Check
The statement is directly supported by Source 1 (PANews), which explicitly reports that 'GriffinAI has removed the official on-chain liquidity of $GAIN from the BNB Chain to protect user security.' Other evidence from sources like GriffinAI's official blog and LinkedIn page (Sources 2 and 3) corroborate that the $GAIN token was active on the BNB Chain, which is a necessary precondition for the removal. There is no contradictory evidence provided.
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Summary

GriffinAI officially confirmed a hack affecting its $GAIN token on BNB Chain and removed its on-chain liquidity to safeguard users. Binance announced it is working with the project to conduct a post-mortem analysis and design a compensation plan for those impacted. This official announcement underscores efforts to mitigate risks while ensuring the Ethereum-based $GAIN token remains unaffected.

Terms & Concepts
  • $GAIN Token: A cryptocurrency token associated with GriffinAI, available on both the BNB Chain and Ethereum networks.
  • BNB Chain: A blockchain developed by Binance, used for decentralized applications and digital asset transactions.