Summary
Griffin AI is a Web3 no-code AI agent builder on BNB Chain that launched its native GAIN token on Binance Alpha on September 24, 2025. Within hours of launch, an attacker exploited a misconfigured LayerZero cross-chain peer to mint 5 billion unauthorized GAIN tokens and dump approximately $3 million worth into the market, crashing the token 87-90% and erasing roughly $36 million in market capitalization. The team subsequently enacted a token migration, a $2.5 million recovery fund, and a re-launch on October 6, 2025, though GAIN continues to trade approximately 95% below its all-time high.
Connected Entities
1 entitiesTimeline(8 events)
2025-09-24
Griffin AI lists GAIN token on Binance Alpha, KuCoin, MEXC, HTX, and Gate.io. Token opens at $0.05 and surges over 400% to approximately $0.24, reaching a peak fully diluted valuation near $224 million.
2025-09-24
Attacker compromises the admin EOA on BNB Chain (0x54a978238984d581edd3a9359dda9be53a930a7e), calls `setPeer` to register a fraudulent Ethereum contract as a trusted LayerZero peer, and mints 5 billion unauthorized GAIN tokens on BNB Chain.
2025-09-24
GoPlus Security issues an on-chain alert approximately 22 minutes after the exploit. Attacker dumps 147.5 million GAIN on PancakeSwap for approximately 2,955 BNB (~$3 million). Proceeds converted to ~720 ETH via deBridge and routed through Tornado Cash.
2025-09-24
GAIN collapses 87-90% from peak, market capitalization falls from ~$224 million to approximately $7 million. Griffin AI requests all exchanges halt GAIN deposits, withdrawals, and trading.
2025-09-25
Founder Oliver Feldmeier issues public apology, takes 'full responsibility,' and attributes breach to 'a misconfigured LayerZero cross-chain messaging set-up and compromised key.' ZachXBT flags the incident on his Telegram channel, with secondary sources citing his linkage of attacker laundering activity to DPRK-affiliated wallets.
2025-09-25
Griffin AI announces migration to a new fully-audited GAIN token and establishment of a $2.5 million recovery fund to compensate affected buyers.
2025-10-06
Griffin AI re-launches GAIN token on major exchanges. Pre-hack holders receive new GAIN 1:1 via airdrop. Binance covers approximately half of replacement tokens distributed to affected users.
2026-05-26
GAIN trades at approximately $0.0013, approximately 95.3% below its all-time high of ~$0.028. No regulatory actions have been identified against Griffin AI or its founders.
Decision Log
- hash: 25CosybYpDK6CBtXtKiW3WiEqduH8gMnNx3NVyMy26or
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:21 AM
last updated: 5/26/2026, 6:37:11 PM
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