Griffin AI Misused: 5 Billion GAIN Tokens Created
Griffin AI Exploit Details: Griffin AI's GAIN token was exploited due to a misconfiguration in a LayerZero peer, allowing the attacker to mint 5 billion tokens, resulting in an 87% price drop shortly after launch.
Market Reaction and Financial Impact: The exploit led to a significant decline in market capitalization, with estimates indicating that $3–$4 million was funneled through various blockchain networks before conversion, prompting exchanges to halt GAIN token activities.
Security Concerns: The incident highlights vulnerabilities in cross-chain protocols, raising concerns about security configurations and the potential for increased scrutiny on similar systems in the future.
Response from Griffin AI: In response to the exploit, the Griffin AI team withdrew liquidity from the BNB Chain to protect token holders, while ongoing investigations aim to address the security flaws that allowed the attack.
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Technical Analysis for GAIN
Technical Sentiment Analysis for Griffin AI (GAIN) As of , Griffin AI (GAIN) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 9 technical signals, shows that 6 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for GAIN stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, GAIN is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Griffin AI (GAIN) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | -0.000251 | 0.000745 | 0.00163 | 0.00262 | 0.00351 | 0.0045 | 0.00539 |
| Fibonacci | 0.000745 | 0.00146 | 0.00191 | 0.00262 | 0.00334 | 0.00379 | 0.0045 |
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