Griffin AI ($GAIN token): Fake LayerZero Peer Initialization (Cross-Chain Minting Exploit)
Griffin AI's $GAIN token was exploited less than 24 hours after launch on Binance Alpha — an attacker registered a fake LayerZero peer on Ethereum to mint 5 billion unauthorized tokens (5x max supply), dumping 2.8% for $3M while leaving a 97.2% supply overhang as a permanent sword of Damocles over the token.
Summary #
Griffin AI ($GAIN token) suffered a AI Token / Cross-Chain Token (LayerZero OFT) on 2024-09-24, resulting in a loss of approximately $3M.
What happened #
Griffin AI's $GAIN token was exploited less than 24 hours after launch on Binance Alpha — an attacker registered a fake LayerZero peer on Ethereum to mint 5 billion unauthorized tokens (5x max supply), dumping 2.8% for $3M while leaving a 97.2% supply overhang as a permanent sword of Damocles over the token.
Linked factors #
- RD-F-004 — causal : Audit count likely 0; floor display [via dashboard_risk_factors/Vulnerability in audited or unaudited code: Unaudited; LayerZero OFT peer configuration misconfiguration]
- RD-F-006 — causal : Audit-deploy gap — alternate field name [via dashboard_risk_factors/Code newly deployed/upgraded?: Yes — brand new token launch]
- RD-F-007 — related : Bug bounty absent — baseline integrity gap [via dashboard_risk_factors/Bug bounty: None mentioned]
- RD-F-126 — causal : Is-a-fork-of (Cat 8 anchor) [via dashboard_risk_factors/Forked?: Uses LayerZero OFT standard (not a fork per se, but relies on shared infrastructure)]