The renowned blockchain project, GNUS.AI, which is hosted on the Fantom network, finds itself in a precarious situation following a security breach that resulted in an estimated loss of $1.2 million. The breach, which was carried out by hackers, involved the exploitation of system vulnerabilities to introduce counterfeit GNUS tokens into circulation. These fake tokens were then injected into various pools, including the Axelar Bridge, allowing them unrestricted movement between networks such as Fantom, Ethereum, and Polygon. Subsequently, these unauthorized tokens were either sold or mixed with other liquidity pools, exacerbating the financial impact of the breach.
In response, GNUS.AI swiftly addressed the issue by publicly acknowledging the breach through a post on platform X. The company assured its users of its commitment to resolving the situation by taking a snapshot of the system immediately prior to the exploitation, serving as the subsequent block. GNUS.AI also issued a message urging its investors to refrain from purchasing GNUS tokens until a new version is introduced, as the consequences of the hack cannot be rectified. This strategic move aims to promote fairness and transparency, aligning with the project’s mission of fostering trust and accountability among users.
Furthermore, GNUS.AI offered refunds to users encountering difficulties on their website, demonstrating the project’s dedication to ensuring accountability and mitigating the negative impact of the crisis at hand. By expanding the scope of their response, the project underscores its commitment to its stakeholders and strives to minimize the adverse effects of this unfortunate incident.
