The renowned blockchain project, GNUS.AI, which operates on the Fantom network, finds itself in a precarious situation following a security breach that has resulted in an estimated loss of $1.2 million. The attack on GNUS.AI was a sophisticated one, with hackers exploiting vulnerabilities in the system to introduce counterfeit GNUS tokens. These fake tokens were then seamlessly circulated across various platforms, such as Fantom, Ethereum, and Polygon, through the Axelar Bridge. To compound the financial impact, these unauthorized tokens were either sold off or mixed with other liquidity pools.
In a timely response, GNUS.AI promptly acknowledged the breach through a social media post on platform X. The company reassured users of its commitment to resolving the situation by taking a snapshot of the system immediately before the breach occurred. This snapshot served as the subsequent block, ensuring the integrity of the system. GNUS.AI also issued a statement urging 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 within the project, aligning with their mission to instill trust and accountability among users.
Furthermore, GNUS.AI has offered refunds to users who have encountered difficulties on their website. This expansion of the remedial efforts highlights the project’s dedication to ensuring accountability and mitigating the negative repercussions of this crisis.
