PANews reported on November 24th that Port3 will launch a token migration plan, with all tokens migrating at a 1:1 ratio. A snapshot was taken immediately after the attack. The team will distribute tokens in bulk, providing 200 to 500 tokens as compensation to each user affected by the attack as of 20:56 UTC. The team is currently confirming the distribution method on CEXs; the new tokens will only be issued on the BNB Chain. By burning team tokens, the excess supply caused by the exploit will be completely offset, with a total of 162,750,000 PORT3 tokens burned to ensure the total supply remains unchanged. The team has patched the vulnerability; the hacker will not be able to obtain any new tokens or issue any new tokens from the new contract address (CA). Earlier yesterday, it was reported that Port3 Network was hacked and its BridgeIn vulnerability was exploited to issue new tokens, causing PORT3 to plummet 77.4% in 24 hours.PANews reported on November 24th that Port3 will launch a token migration plan, with all tokens migrating at a 1:1 ratio. A snapshot was taken immediately after the attack. The team will distribute tokens in bulk, providing 200 to 500 tokens as compensation to each user affected by the attack as of 20:56 UTC. The team is currently confirming the distribution method on CEXs; the new tokens will only be issued on the BNB Chain. By burning team tokens, the excess supply caused by the exploit will be completely offset, with a total of 162,750,000 PORT3 tokens burned to ensure the total supply remains unchanged. The team has patched the vulnerability; the hacker will not be able to obtain any new tokens or issue any new tokens from the new contract address (CA). Earlier yesterday, it was reported that Port3 Network was hacked and its BridgeIn vulnerability was exploited to issue new tokens, causing PORT3 to plummet 77.4% in 24 hours.
Port3 launches token migration plan and burns over 160 million tokens.
PANews reported on November 24th that Port3 will launch a token migration plan, with all tokens migrating at a 1:1 ratio. A snapshot was taken immediately after the attack. The team will distribute tokens in bulk, providing 200 to 500 tokens as compensation to each user affected by the attack as of 20:56 UTC. The team is currently confirming the distribution method on CEXs; the new tokens will only be issued on the BNB Chain. By burning team tokens, the excess supply caused by the exploit will be completely offset, with a total of 162,750,000 PORT3 tokens burned to ensure the total supply remains unchanged. The team has patched the vulnerability; the hacker will not be able to obtain any new tokens or issue any new tokens from the new contract address (CA).
Earlier yesterday, it was reported that Port3 Network was hacked and its BridgeIn vulnerability was exploited to issue new tokens, causing PORT3 to plummet 77.4% in 24 hours.
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