
Port3 Network initiates a 1:1 token migration on BNB Chain and burns 162.75 million tokens to nullify the unauthorized supply after a BridgeIn exploit minted 1 billion tokens.
Port3 Network announced on Nov. 24 a token migration to address a BridgeIn exploit that enabled hackers to mint 1 billion tokens. The plan includes issuing new tokens at a 1:1 ratio on BNB Chain to all affected users and burning 162.75 million tokens to keep total supply unchanged. This move aims to mitigate the impact of the hack and restore ecosystem stability.