The digital currency GAIN, affiliated with Griffin AI, experienced a sharp decline of 80% after abnormal minting and selling activities, according to a security warning issued by PeckShield, a cybersecurity company.

The currency, which was recently listed on major trading platforms such as HTX, KuCoin, and Gate.io, along with an initial appearance on Binance, was subjected to an attack that led to the illegal minting of 5 million GAIN, due to a vulnerability in the smart contract that exceeded the set cap for the supply.

The attacker directly exchanged the minted amount for BNB, achieving profits estimated at around 3 million dollars, which caused an immediate collapse in the price of the cryptocurrency GAIN.

In a later step, the attacker converted the balances to the equivalent of 720 ETH, then transferred them to the Tornado Cash platform, making it difficult to trace the financial path of the stolen currencies.

After the attack, Griffin AI requested all platforms to temporarily halt trading of the cryptocurrency GAIN, confirming that it is working in coordination with security partners to contain the situation.