Liechtenstein, Liechtenstein, October 6th, 2025, Chainwire
Griffin AI will start the relaunch of its GAIN token on Monday, 6 October at 6:00 p.m. Singapore Time (12:00 p.m. CET). The relaunch process differs by user group: centralized exchanges (CEX), self-custody wallet holders, and Binance Alpha users. A snapshot for the 1:1 swap was taken at the time the unauthorized minting began on 24th September. A USD 2.5 million goodwill recovery and buyback fund was put up by the founder representing the full amount the hacker has obtained from the sale of counterfeit tokens to community. Liquidity will be re-established on PancakeSwap, and the product roadmap continues unchanged.
The GAIN token relaunch is here.
When: Monday, 6 October, 6:00 p.m. Singapore time (12:00 CET)
The background
On the 24 September Griffin AI conducted a successful launch of its original GAIN token. Opening at 0.05 USD price reflecting USD50m valuation (FDV), the price quickly reached 0.24 USD while volumes hit over USD 100m. 12 hours later the attacker deployed the malicious peer contract on the Ethereum network exploiting cross-chain endpoint and minting ~5 billion fake GAIN tokens on Binance Smart Chain. The hacker sold ~2.8% of the minted fake token for estimated USD3m.
We conducted a security audit of the smart contracts and the personnel involved in minting operations. Neither the original Ethereum smart contract, nor the Griffin platform or any of its products (including the Transaction Execution Agent), experienced any security breach. The incident was limited to an exploit of the BNB bridge on BNB Chain for minting of the fake GAIN token.
The relaunch of the Griffin AI GAIN token
The relaunch will be conducted differently for each of three groups involved: CEX, independent wallet holders, and Binance Alpha.
Users of our partner centralized exchanges
Exchanges: HTX, MEXC, Gate.io, KuCoin, WEEX – all exchanges that conducted the initial token launch on 24 September are backing the re-launch following the token swap.
The process: Your exchange will handle the contract swap, credit the new GAIN to your account, and remove the old token. After that, the exchange will reopen trading, deposits, and withdrawals according to its own timeline, starting with MEXC and HTX on Monday, 6 October at 6:00 p.m. Singapore time (12:00 p.m. CET).
What users need to do
No action needed; wait for your exchange announcement and follow Griffin AI on Twitter @Griffin_AI.
The background for the CEX case: These exchanges moved quickly to pause deposits and withdrawals within hours of the unauthorized token mint on 24 September 2025. This fast move largely prevented counterfeit tokens from entering their platforms. MEXC, Gate.io, KuCoin, and WEEX paused trading on 25 September. HTX continued trading because it closed deposits and withdrawals before any fake tokens could enter. This is why trading on HTX reflected the original, legitimate GAIN minted by the Griffin AI project.
Self-custody wallet users (MetaMask, Ledger, etc.)
We fixed the snapshot for airdrop at the time when the hacker started to move unauthorized minted tokens: on 24 September 2025, 23:26:18 UTC.
We have identified 2,932 non-compromised wallets holding real GAIN at the time of the snapshot. To these wallets we are airdropping a total of 3,239,281 new GAIN tokens.
What happens next
- If you are the holder of one of these wallets, you will receive new GAIN 1:1 via airdrop on the 6 October 2025. No action is needed on your side.
- Incident-period buyers: apply to the Goodwill Recovery Program via Griffin AI Support: Community. Allocations will be paid in GAIN token pro rata, with linear vesting based on verified claims.
Binance Alpha users
The largest share of the counterfeit tokens was absorbed by Binance Alpha between 25 September and before trading was paused on 2 October.
What happens next
We are working directly with Binance on a tailored solution for balances on its platform. The blanket 1:1 swap for the entire period before the trading pause cannot not be carried out by the project. Please wait for Binance’s own announcement on how it will handle the contract swap.
Why we are not doing a blanket 1:1 for all post-incident purchases
During the incident, a large number of fake tokens hit the market at very low prices. If we exchanged every post-incident token 1:1, the freely tradable supply at relaunch would jump by about ten times. That would likely cause instant heavy selling, block normal price discovery, and make a proper relaunch impossible harming all members of the community.
Instead, we chose a funded, capped recovery fund which will buy back and burn tokens in the total amount of USD 2.5 million — equal to the full amount the hacker has obtained from the sale of counterfeit tokens to community. Such approach protects market integrity and gives affected buyers a real, funded path to recover value over time rather than handing out tokens into a market that could not absorb them.
Liquidity setup
For the relaunch, Griffin AI will replicate the initial liquidity setup by deploying an authorized Griffin Liquidity Pool on PancakeSwap totaling USDT 600,000, split USDT 300,000 in stablecoins and USDT 300,000 in GAIN.
Technology and roadmap
With the swap of the token, the vulnerability is closed and the security posture strengthened. GAIN is game on again.
The relaunch does not change our roadmap. Griffin AI continues to ship DeFi agents on BNB Chain and Ethereum — the next generation of DeFi. Our focus remains the same: build useful tech and support our community. A new product update will be shared later this week.
GAIN Token and security information
- Token type: LayerZero V2 OFT (ERC-20
- New contract address: 0xa890F8BA60051ec8a5B528F056DA362Ba208a96F
- Max supply on chain: 1,000,000,000
- Total supply difference: 0
- Security audit: conducted by Hacken. Link to the audit report: Griffin AI AG audit by Hacken Griffin AI AG audit by Hacken
- For terms and conditions of the token swap, please refer to the project website #1 AI Agent Builder for Web3
About Griffin AI
Griffin AI is a #1 no-code agent builder for DeFi, powering more than fifteen thousand live agents. Its flagship agent, Transaction Execution Agent (TEA), executes swaps and yield strategies across major chains and wallets. Built by an experienced engineering team led by Oliver Feldmeier, who founded one of Europe’s first regulated digital asset exchanges and took it public in a one hundred-million-dollar NASDAQ IPO, Griffin AI combines proven leadership with deep technical execution. The project targets a large DeFi market where most projects lack AI capabilities by delivering on-chain, superintelligent agents. Griffin AI agents are integrated with and trusted by BNB Chain, NEAR Protocol, Cardano Foundation, Arbitrum, 1inch, Uniswap, and Burrito Wallet, with more tier-one partners joining. At the core is GAIN, the native token that powers agentic DeFi.
Contact
Oliver Feldmeier
[email protected]
