Verify a decision

{"actor":"system:backfill","investigation_id":"7a32bb1d-12d1-41c8-b441-e2714e184ef4","kind":"publish","page_slug":"netmind-ai","published_at":"2026-05-19T02:32:58.006Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Netmind AI","sections":[{"content":"","heading":"","severity":"medium","sources":[]},{"content":"","heading":"","severity":"medium","sources":[]},{"content":"","heading":"","severity":"medium","sources":[]},{"content":"","heading":"","severity":"medium","sources":[]},{"content":"","heading":"","severity":"medium","sources":[]},{"content":"","heading":"","severity":"medium","sources":[]}],"sources_used":[],"summary":"Netmind AI (netmind.ai) is a London-based decentralized GPU compute network that issues the NMT token on both Ethereum (ERC20) and BNB Smart Chain (BEP20) via upgradeable proxy contracts. In March 2024, 440,000 NMT tokens were sold in a sudden dump that caused a 76% price crash — attributed by the team to a compromised early miner wallet, though the mechanism remains disputed. The NMT contract is an upgradeable transparent proxy that grants the owner unilateral ability to disable sells, change fees, mint, or transfer tokens, representing a material centralization and rug-risk vector flagged by security tools and, according to AVOID.NET source tagging, by ZachXBT.","timeline":[{"date":"2022-01-01","event":"NetMind.AI incorporated in London; development of NetMind Power decentralized GPU platform begins.","source":"","source_url":"https://iq.wiki/wiki/netmind-ai"},{"date":"2023-01-01","event":"NMT token launched on Ethereum and BNB Smart Chain as an upgradeable proxy contract.","source":"","source_url":"https://www.coingecko.com/en/coins/netmind-token"},{"date":"2024-03-09","event":"NMT token reaches all-time high of $16.09.","source":"","source_url":"https://www.coingecko.com/en/coins/netmind-token"},{"date":"2024-03-15","event":"NMT price crashes 76% from $11.34 to $2.77 after 440,000 tokens are bridged from NetMind Chain to BSC and sold on PancakeSwap. Team denies platform breach and attributes sales to a compromised early miner's wallet.","source":"","source_url":"https://www.tradingview.com/news/cointelegraph:96a776584094b:0-netmind-platform-has-not-been-compromised-claims-team-after-miner-hack-fud/"},{"date":"2024-04-16","event":"NetMind executes major tokenomics upgrade: burns approximately 9.85 billion tokens, reduces max supply to ~147.6M NMT, and compresses distribution schedule from 100 years to 10 years via proxy contract upgrade.","source":"","source_url":"https://x.com/NetMindAI/status/1780284350212514179"},{"date":"2025-02-21","event":"NMT token proxy contract upgraded again on Ethereum (block 21894508), changing the implementation contract address — the third or fourth implementation change since launch.","source":"","source_url":"https://etherscan.io/token/0x03aa6298f1370642642415edc0db8b957783e8d6"},{"date":"2026-05-06","event":"NMT token reaches all-time low of approximately $0.0518, approximately 99.7% below its all-time high.","source":"","source_url":"https://www.coingecko.com/en/coins/netmind-token"}]},"v":1}