{"investigation":{"slug":"port3-network","entity_name":"Port3 Network","trust_score":38,"severity_base":null,"score_modifier":0,"confidence":0.72,"status":"published","content_type":"investigation","summary":"Port3 Network is a Web3 social data protocol and AI data layer founded in 2022, backed by KuCoin Ventures and Jump Crypto, with products including SoQuest, SoSignal, and SoPush targeting Web3 community engagement and data aggregation. In November 2025 the project suffered a critical exploit in which an attacker leveraged a boundary-condition vulnerability in the third-party CATERC20 cross-chain standard to mint approximately 1 billion unauthorized PORT3 tokens valued at roughly $13 million, triggering an 80% token price collapse and full contract migration. ZachXBT has flagged the entity, and the token has been delisted from at least one major exchange (Coinone) following the incident.","sections":[{"content":"Port3 Network describes itself as a decentralized AI data layer for Web3, aiming to aggregate and standardize both on-chain and off-chain social data for use by decentralized applications, DeFi strategies, prediction markets, and AI agents. The project was founded in 2022 by co-founders Anthony Deng and Max Du. Anthony Deng previously held backend engineering positions at Tencent and Viabtc Technology Limited, and also founded ZaiYu Technology LTD. The company operates across Singapore, China, and Thailand. Core products include SoQuest (a Web3 quest and community platform), SoSignal (social and market data dashboards), SoPush (information delivery), and SoGraph (a social graph analysis layer). The project reported over 4.8 million registered users and approximately 70,000 daily active users prior to the November 2025 security incident. The PORT3 token launched via TGE on January 8, 2024, initially listing on KuCoin as a World Premiere.","heading":"Project Overview","sources":[{"url":"https://beincrypto.com/port3-network-web3-social-data-gateway-accelerating-web2-migration/","name":"beincrypto.com","type":"other","credibility":3},{"url":"https://www.gate.com/learn/articles/what-is-port3-network/2164","name":"gate.com","type":"other","credibility":3},{"url":"https://medium.com/@Port3/port3-network-decentralized-social-data-layer-for-web3-78d92743444e","name":"medium.com","type":"other","credibility":3},{"url":"https://www.rootdata.com/member/Anthony%20Deng?k=MTQxODc%3D","name":"rootdata.com","type":"other","credibility":3},{"url":"https://www.kucoin.com/announcement/en-port3-network-port3-gets-listed-on-kucoin-world-premiere","name":"kucoin.com","type":"other","credibility":3}],"severity":"medium"},{"content":"Port3 Network raised a $3 million seed round in February 2023, led by KuCoin Ventures (now KuCoin Labs), with participation from Jump Crypto, SNZ, Adaverse, Block Infinity, Cogitent, Momentum6, and Gate Labs, among others. The project was also incubated by BNB Chain. A further undisclosed strategic funding round was reported on October 21, 2024. The involvement of Jump Crypto and KuCoin Ventures as lead backers provided the project with institutional credibility during its early growth. The total publicly disclosed fundraising stands at $3 million in seed capital, with additional undisclosed strategic funding. The initial fully diluted valuation at TGE was reported at approximately $50 million. Post-hack, several exchanges that previously listed PORT3 reassessed their support, reflecting a deterioration in institutional confidence.","heading":"Funding and Investor Backing","sources":[{"url":"https://www.theblock.co/post/208066/kucoin-labs-backs-web3-social-data-portal-port3s-3-million-round","name":"theblock.co","type":"other","credibility":3},{"url":"https://cryptorank.io/ico/port-3-network","name":"cryptorank.io","type":"other","credibility":3},{"url":"https://www.coincarp.com/project/port3-network/","name":"coincarp.com","type":"other","credibility":3}],"severity":"medium"},{"content":"On November 22-23, 2025, Port3 Network suffered a critical security exploit resulting in the unauthorized minting of approximately 1 billion PORT3 tokens, valued at roughly $13 million at the time of the attack. The exploit was traced to a boundary-condition validation vulnerability in the CATERC20 token standard developed by Nexa Network, which Port3 had adopted to support multi-chain development. The flaw: when Port3 renounced ownership of its token contract — an action intended to signal decentralization — the ownership verification function began returning 0, inadvertently matching the owner-verification condition and allowing any address to be treated as the authorized owner. The attacker, using wallet address 0xb13A503dA5f368E48577c87b5d5AeC73d08f812E, registered themselves as an authorized BridgeIn operator at 20:56:24 UTC on November 23, deployed a fake token on Arbitrum, and initiated a cross-chain transaction that minted 1 billion PORT3 tokens on BNB Smart Chain. Approximately 162 million of these tokens were sold on decentralized exchanges for roughly 199 BNB (approximately $166,000), while the remainder were burned by the attacker. The PORT3 token price dropped approximately 80%, falling from around $0.037 to a low of approximately $0.0063 within hours. The vulnerability was not identified in prior CATERC20 audit reports. The Port3 team coordinated with exchanges to suspend deposits and withdrawals and removed on-chain liquidity to limit further damage.","heading":"November 2025 Security Exploit","sources":[{"url":"https://unchainedcrypto.com/port3-network-loses-13-million-in-token-bridge-exploit/","name":"unchainedcrypto.com","type":"other","credibility":3},{"url":"https://nulltx.com/port3-exploit-triggers-full-token-migration-after-cross-chain-vulnerability-exposes-caterc20-weakness/","name":"nulltx.com","type":"other","credibility":3},{"url":"https://www.bitget.com/news/detail/12560605077904","name":"bitget.com","type":"other","credibility":3},{"url":"https://www.bitget.com/news/detail/12560605078700","name":"bitget.com","type":"other","credibility":3},{"url":"https://www.weex.com/news/detail/port3-network-being-attacked-due-to-caterc20-vulnerability-will-release-a-new-token-to-fully-address-the-issue-238007","name":"weex.com","type":"other","credibility":3},{"url":"https://phemex.com/news/article/port3-network-hacked-due-to-vulnerability-in-caterc20-token-solution-38622","name":"phemex.com","type":"other","credibility":3}],"severity":"medium"},{"content":"Following the November 2025 exploit, Port3 Network announced a full token migration plan. The team took a snapshot of all PORT3 holdings at 20:56 UTC on November 22, 2025, immediately prior to the attack. All holders were offered a 1:1 replacement with a new PORT3 token deployed exclusively on BNB Chain. In addition, 162.75 million team-allocated tokens were burned to offset the unauthorized minting by the attacker. The team reported distributing between 200 and 500 tokens as compensation to affected users. Exchange-side migration support was coordinated with KuCoin, Gate, MEXC, and OKX, among others. The BNB Chain migration was finalized on January 31, 2026. The new PORT3 contract address is reported as 0xf6402bec11bd945bbd46be77e1fa5d477883f6c2. By early 2026, exchanges including Gate and MEXC had reopened deposits and trading for the new token, though with materially reduced market capitalization compared to pre-exploit levels. The all-time high of approximately $0.3283 (reached March 28, 2024) has not been approached since the exploit, with the token trading near $0.0015 as of mid-2026.","heading":"Token Migration and Post-Exploit Recovery","sources":[{"url":"https://www.okx.com/en-gb/learn/port3-token-migration-hack-details","name":"okx.com","type":"other","credibility":3},{"url":"https://www.kucoin.com/news/flash/port3-network-token-migration-plan-launched-team-tokens-to-be-burned-to-offset-unauthorized-minting","name":"kucoin.com","type":"other","credibility":3},{"url":"https://www.panewslab.com/en/articles/f6055e62-9e60-4789-aec3-41b38632990d","name":"panewslab.com","type":"other","credibility":3},{"url":"https://intellectia.ai/news/crypto/port3-network-announces-token-migration-plan-after-security-breach","name":"intellectia.ai","type":"other","credibility":3},{"url":"https://www.coincarp.com/currencies/announcement/port3-network-port3-contract-migration/","name":"coincarp.com","type":"other","credibility":3}],"severity":"medium"},{"content":"In the aftermath of the November 2025 exploit, multiple exchanges took action against PORT3. South Korean exchange Coinone delisted PORT3 on January 26, 2026, citing unresolved security concerns stemming from the hack. Gate.io temporarily suspended PORT3 deposits, withdrawals, and trading following confirmation of malicious token minting. Kraken listed PORT3 among scheduled December 2025 delistings. These collective exchange actions significantly impaired liquidity and investor access to the token. PORT3's CoinMarketCap ranking fell to approximately #1911 by mid-2026, with a reported market capitalization of roughly $1 million, down sharply from its peak. Circulating supply as of mid-2026 stands at approximately 692 million PORT3 out of a 1 billion total supply.","heading":"Exchange Delistings and Market Impact","sources":[{"url":"https://www.mexc.com/news/337145","name":"mexc.com","type":"other","credibility":3},{"url":"https://www.onesafe.io/blog/coinone-port3-delisting-security-breach","name":"onesafe.io","type":"other","credibility":3},{"url":"https://support.kraken.com/articles/notice-of-scheduled-delistings-dec-2025","name":"support.kraken.com","type":"other","credibility":3},{"url":"https://coinmarketcap.com/currencies/port3-network/","name":"coinmarketcap.com","type":"other","credibility":3},{"url":"https://www.coingecko.com/en/coins/port3-network","name":"coingecko.com","type":"other","credibility":3}],"severity":"medium"},{"content":"PORT3 has a total supply of 1 billion tokens, with the following reported allocation: Ecosystem (36%), Private Sale (21%), Team (20%), Treasury (10%), Marketing (5%), and Public Sale (1%). The team allocation of 200 million tokens carries a 1-year cliff followed by quarterly linear vesting over 3 years. Private sale investors received 2.5% at TGE, then linear release over 24 months following a 3-month cliff. As of mid-2026, approximately 83.33 million of the 200 million team tokens have unlocked. The 20% team allocation is notably high relative to community norms and represents a concentrated insider stake. The post-exploit decision to burn 162.75 million team tokens partially offset the dilutive impact of the unauthorized mint, though this also reduced future team vesting availability. No SEC or CFTC regulatory actions have been identified against Port3 Network or its principals as of the date of this investigation.","heading":"Tokenomics and Vesting Concerns","sources":[{"url":"https://cryptorank.io/price/port-3-network/vesting","name":"cryptorank.io","type":"other","credibility":3},{"url":"https://icodrops.com/port3-network/","name":"icodrops.com","type":"other","credibility":3},{"url":"https://dropstab.com/coins/port3-network/vesting","name":"dropstab.com","type":"other","credibility":3},{"url":"https://www.coincarp.com/currencies/port3-network/project-info/","name":"coincarp.com","type":"other","credibility":3}],"severity":"medium"},{"content":"ZachXBT, the pseudonymous on-chain investigator known for exposing crypto scams and hacks, has flagged Port3 Network. The specific nature and public documentation of this flag have not been independently located in verifiable public sources as of this investigation, and the scope of ZachXBT's concerns beyond the November 2025 exploit is not confirmed by Tier 1 or Tier 2 sources. Port3 itself issued a warning in January 2024 alerting users to scam websites and fake accounts impersonating the project, suggesting active third-party impersonation activity. The SoQuest platform entered maintenance mode in early 2026, described by the team as a transition period. Community sentiment following the exploit was broadly negative, with concerns raised about the team's due diligence in adopting an unaudited cross-chain standard and the adequacy of pre-migration security disclosures. The extent of the ZachXBT flag — whether related solely to the exploit or to broader conduct concerns — requires direct verification from ZachXBT's public communications channels.","heading":"ZachXBT Flag and Community Concerns","sources":[{"url":"https://x.com/Port3Network/status/1742532619185840587","name":"x.com","type":"other","credibility":3},{"url":"https://medium.com/@Port3/port3-network-monthly-recap-january-the-great-rebuild-evolution-2f111a113595","name":"medium.com","type":"other","credibility":3}],"severity":"medium"}],"timeline":[{"date":"2022","event":"Port3 Network founded by Anthony Deng and Max Du, targeting Web3 social data aggregation.","source":"","date_original":"2022-01-01"},{"date":"2023-02","event":"Port3 Network raises $3 million seed round led by KuCoin Ventures, with participation from Jump Crypto, SNZ, Adaverse, and others.","source":"","date_original":"2023-02-01"},{"date":"2024-01-08","event":"PORT3 Token Generation Event (TGE) completed; token listed on KuCoin as World Premiere.","source":""},{"date":"2024-03-28","event":"PORT3 reaches all-time high price of approximately $0.3283.","source":""},{"date":"2024-10-21","event":"Undisclosed strategic funding round closes.","source":""},{"date":"2025-11-22","event":"Attacker exploits CATERC20 boundary-condition vulnerability at 20:56:24 UTC, minting 1 billion unauthorized PORT3 tokens valued at approximately $13 million. Token price drops approximately 80%.","source":""},{"date":"2025-11-23","event":"Port3 team confirms hack, removes on-chain liquidity, coordinates exchange suspensions, and announces 1:1 token migration plan with snapshot at 20:56 UTC.","source":""},{"date":"2025-12-24","event":"Coinone lists PORT3 among scheduled December 2025 delistings.","source":""},{"date":"2026-01-26","event":"Coinone formally delists PORT3, citing unresolved security concerns from the November exploit.","source":""},{"date":"2026-01-31","event":"Port3 Network completes BNB Chain token migration to new contract address 0xf6402bec11bd945bbd46be77e1fa5d477883f6c2.","source":""},{"date":"2026-02","event":"SoQuest platform enters maintenance mode; team describes January 2026 as a period of strategic rebuild.","source":"","date_original":"2026-02-01"}],"sources_used":[{"url":"https://beincrypto.com/port3-network-web3-social-data-gateway-accelerating-web2-migration/","name":"beincrypto.com","type":"other","archive_url":null,"credibility":3,"archive_timestamp":null},{"url":"https://www.gate.com/learn/articles/what-is-port3-network/2164","name":"gate.com","type":"other","archive_url":"https://web.archive.org/web/20260829090005/https://www.gate.com/learn/articles/what-is-port3-network/2164","credibility":3,"archive_timestamp":"2026-08-29T09:00:05+00:00"},{"url":"https://medium.com/@Port3/port3-network-decentralized-social-data-layer-for-web3-78d92743444e","name":"medium.com","type":"other","archive_url":null,"credibility":3,"archive_error":"error:no-request","archive_status":"unarchivable","archive_timestamp":null},{"url":"https://www.rootdata.com/member/Anthony%20Deng?k=MTQxODc%3D","name":"rootdata.com","type":"other","archive_url":"http://web.archive.org/web/20251108060338/https://www.rootdata.com/member/Anthony%20Deng?k=MTQxODc%3D","credibility":3,"archive_timestamp":"2025-11-08T06:03:38+00:00"},{"url":"https://www.kucoin.com/announcement/en-port3-network-port3-gets-listed-on-kucoin-world-premiere","name":"kucoin.com","type":"other","archive_url":"https://web.archive.org/web/20260829050412/https://www.kucoin.com/announcement/en-port3-network-port3-gets-listed-on-kucoin-world-premiere","credibility":3,"archive_timestamp":"2026-08-29T05:04:12+00:00"},{"url":"https://www.theblock.co/post/208066/kucoin-labs-backs-web3-social-data-portal-port3s-3-million-round","name":"theblock.co","type":"other","archive_url":"http://web.archive.org/web/20260303110718/https://www.theblock.co/post/208066/kucoin-labs-backs-web3-social-data-portal-port3s-3-million-round","credibility":3,"archive_timestamp":"2026-03-03T11:07:18+00:00"},{"url":"https://cryptorank.io/ico/port-3-network","name":"cryptorank.io","type":"other","archive_url":"https://web.archive.org/web/20260829030727/https://cryptorank.io/ico/port-3-network","credibility":3,"archive_timestamp":"2026-08-29T03:07:27+00:00"},{"url":"https://www.coincarp.com/project/port3-network/","name":"coincarp.com","type":"other","archive_url":null,"credibility":3,"archive_timestamp":null},{"url":"https://unchainedcrypto.com/port3-network-loses-13-million-in-token-bridge-exploit/","name":"unchainedcrypto.com","type":"other","archive_url":"http://web.archive.org/web/20251124160135/https://unchainedcrypto.com/port3-network-loses-13-million-in-token-bridge-exploit/","credibility":3,"archive_timestamp":"2025-11-24T16:01:35+00:00"},{"url":"https://nulltx.com/port3-exploit-triggers-full-token-migration-after-cross-chain-vulnerability-exposes-caterc20-weakness/","name":"nulltx.com","type":"other","archive_url":"http://web.archive.org/web/20260308180614/https://nulltx.com/port3-exploit-triggers-full-token-migration-after-cross-chain-vulnerability-exposes-caterc20-weakness/","credibility":3,"archive_timestamp":"2026-03-08T18:06:14+00:00"},{"url":"https://www.bitget.com/news/detail/12560605077904","name":"bitget.com","type":"other","archive_url":"https://web.archive.org/web/20260829083535/https://www.bitget.com/news/detail/12560605077904","credibility":3,"archive_timestamp":"2026-08-29T08:35:35+00:00"},{"url":"https://www.bitget.com/news/detail/12560605078700","name":"bitget.com","type":"other","archive_url":"https://web.archive.org/web/20260829083504/https://www.bitget.com/news/detail/12560605078700","credibility":3,"archive_timestamp":"2026-08-29T08:35:04+00:00"},{"url":"https://www.weex.com/news/detail/port3-network-being-attacked-due-to-caterc20-vulnerability-will-release-a-new-token-to-fully-address-the-issue-238007","name":"weex.com","type":"other","archive_url":"https://web.archive.org/web/20260829232405/https://www.weex.com/news/detail/port3-network-being-attacked-due-to-caterc20-vulnerability-will-release-a-new-token-to-fully-address-the-issue-238007","credibility":3,"archive_timestamp":"2026-08-29T23:24:05+00:00"},{"url":"https://phemex.com/news/article/port3-network-hacked-due-to-vulnerability-in-caterc20-token-solution-38622","name":"phemex.com","type":"other","archive_url":"https://web.archive.org/web/20260829230532/https://phemex.com/news/article/port3-network-hacked-due-to-vulnerability-in-caterc20-token-solution-38622","credibility":3,"archive_timestamp":"2026-08-29T23:05:32+00:00"},{"url":"https://www.okx.com/en-gb/learn/port3-token-migration-hack-details","name":"okx.com","type":"other","archive_url":"https://web.archive.org/web/20260829051510/https://www.okx.com/en-gb/learn/port3-token-migration-hack-details","credibility":3,"archive_timestamp":"2026-08-29T05:15:10+00:00"},{"url":"https://www.kucoin.com/news/flash/port3-network-token-migration-plan-launched-team-tokens-to-be-burned-to-offset-unauthorized-minting","name":"kucoin.com","type":"other","archive_url":null,"credibility":3,"archive_timestamp":null},{"url":"https://www.panewslab.com/en/articles/f6055e62-9e60-4789-ae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