Gain is a native utility token for Griffin AI and has suffered a dramatic 87% plunge since its market debut yesterday.
Research on the chain revealed that the collapse was driven by attackers minting 5 billion tokens, dumping them into the market, destroying early investors, and raising security concerns.
Why did profit token prices plummet?
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For context, Griffin AI is a no-code platform for building, deploying, and scaling autonomous artificial intelligence (AI) agents. The project will boost over 15,000 live agents, allowing users to create tools such as running transactions, investigating, yielding, and more.
Gain tokens enhance the Griffin AI ecosystem by allowing access to sophisticated agents, AI service credits, and operator collateral. It also supports the creator tool. Looking ahead, staked gains help secure node networks and coordinate incentives between contributors.
The token transaction began on September 24th at Binance Alpha and was accompanied by exclusive airdrops for users who hold at least 210 alpha points.
“Binance Alpha is the first platform to feature Griffin AI (Gain), which Alpha Trading opened at 11:00 (UTC) on September 24, 2025,” Binance posted.
Additionally, a list of other major centralized exchanges has been secured, including Kucoin, HTX, MEXC, and Gate.io. However, following its launch, prices fell on a massive basis.
Data from Beincrypto Markets showed that Gain’s value was penetrated by nearly 87%, causing investors’ losses. At the time of writing, Altcoin was trading at $0.027.
Amidst the price decline, daily trading volumes skyrocketed 126% to $96 million, with decentralized exchanges (DEXs) making up the majority of their activities.
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Inside the Gain Mint and Dump Attack
But what causes this sharp dip? On-chain analysis showed that unusual activity began several hours ago. Wallet address 0xF3D17326130F90C1900BC0B69323C4C7E2D58DB2 Casted 5 billion gain tokens, total supply has expanded from the original 1 billion.
“Tracking the source of funds upwards is the new address that we received ETH from the tornado 13 hours ago, converted to BNB via a symbiotic cross chain,” analysts on the chain said.
The attacker sold 147.5 million tokens at Pancakeswap, a leading multichi index that nets 2,955 bnbs (approximately $3 million).
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According to Embercn, 2,955 BNB was converted to 720.81 ETH via debridge and distributed in the following six wallets:
- 0x1AFC80D0E15CBCBFAAB9AD5520B4AB843DFD648D
- 0xD4D83C2BC58B97D6458A7AE7D5B417C5422DC04C
- 0xb31bddb3d1c2b45e5c5fe149aa4c8304e9d1916c
- 0xA6654F227ECCF2F84476D2D51434081613F8BABA
- 0x107E83EBE677DDEC253C440127F2330720177C2
- 0xf1755a2b7d0e418e9bab4f81ad674fa39fa7f23d
Analysts added that funds are beginning to flow into tornado cash due to obfuscation. Meanwhile, Goplus Security has later been identified as an exploit derived from a rogue Layerzero peer setup, similar to a pre-attack on the Yara project.
“The attackers (probably via insider or social engineering attacks) added fake layerzero peers to Ethereum, cast fake TTTT tokens and used them to bypass cross-chain checks.
The event has attracted a lot of criticism from the community, with many users reporting losses from the incident.
“We accept losses, but not fraud. In the market, when you lose money in fair competition, the loss is a loss. We accept that. Designated users.
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Nevertheless, some agree that this could be the job of the outsider, not the core team itself.
“This operation doesn’t look like what the project team does. It’s too blatant and bold. It looks like someone has exploited the mint’s vulnerability, but we’re waiting for the official announcement,” another analyst added.
Still, the crash is eroding significantly User trust. In response, the Griffin AI team issued a statement on the X, confirming the exploit mechanics. Additionally, the team also removes the authorized liquidity pool of the BNB chain to shield holders, I asked the exchange to freeze gain activity.
“Don’t interact with LPS that could be created by attackers. They are not formal and pose risk. ETH gains remain safe,” the post read.
The Gain exploit caused investors to get caught up in the launch of Griffin AI tokens, raising questions. The team is working to mitigate violations, but it remains uncertain whether these measures will restore confidence or improve token price actions.