Griffin AI has officially relaunched its $GAIN token following the September exploit that saw an attacker mint 5 billion counterfeit tokens through a compromised bridge contract. Centralized exchanges including HTX, MEXC, and WEEX have reopened trading as part of a coordinated token swap, with Gate.io and KuCoin set to follow.
The company said all legitimate holders have received a one-to-one swap for their tokens, while post-incident buyers can claim vested allocations. Meanwhile, Binance users are still awaiting final resolution pending an official exchange announcement.
Griffin AI confirmed that no new supply will enter the market at relaunch, calling the reset a “clean slate” designed to stabilize trading conditions.
To compensate affected users, the project established a $2.5 million goodwill buyback fund, equivalent to the amount extracted by the hacker, and reaffirmed that neither its Ethereum contracts nor its platform suffered a direct breach.
Attackers exploited a vulnerability in a BNB Chain bridge endpoint, minting and selling fake tokens before laundering roughly $3 million through Tornado Cash.
Griffin AI faces trust test after $GAIN token relaunch
Griffin AI’s latest relaunch faces the uphill task of rebuilding investor confidence after $GAIN’s 84% collapse in late September. At the time, the company’s market value evaporated overnight as fake liquidity flooded the market.
The new token rollout, coupled with transparent exchange coordination, signals the company’s effort to reestablish footing in an increasingly skeptical landscape.
September’s collapse exposed how fragile the AI-DeFi link remains. Griffin AI’s relaunch now faces a tougher test, proving that on-chain trust can be rebuilt.
Also read: SoFi to Relaunch Crypto Trading by the End of the Year
