— 1 Billion Tokens Minted Illegally; Price Plummets on Exchanges.🥷$PORT3 🥷
The confirmation that the altcoin PORT3, listed on major global exchanges, was the target of a critical attack involving the unauthorized minting of 1 billion tokens.
✨The $PORT3 is currently traded on Bybit and Gate exchanges, and on MEXC, and is available on Binance Alpha, a pre-listing pool.✨
According to on-chain data, an unknown attacker exploited a vulnerability in a smart contract of the protocol, allowing the creation of a massive amount of tokens 'out of nowhere' — equivalent to $13.07 million at the time of the attack.
The action caused an immediate collapse in price and triggered panic among investors.
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💣 What has already been drained — and what is still at risk
Shortly after minting the 1 billion PORT3, the hacker began dumping the tokens in the market at high speed.
So far:
• 💥 156 million PORT3 have already been converted to
→ 1445.3 BNB, totaling approximately US$ 2.03 million
• 🧨 844 million PORT3 remain in the invader's wallet
In other words:
There is an imminent risk of further selling pressure, capable of destroying even more liquidity and the price of the altcoin if the hacker continues dumping the remaining tokens.
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📉 Immediate market impact
• Strong sell-off in all exchanges where PORT3 is traded
• Volume exploded suddenly due to artificial flow
• Offer book was drained quickly
• Confidence in the project has drastically fallen in a matter of minutes
Traders report violent drops of over –60% in the short term, with peaks of extreme volatility.
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🧠 What explains the attack?
On-chain sources indicate that the hacker exploited:
✔️ a flaw in the minting module of the contract
✔️ absence of limits or additional validations
✔️ poorly configured permissions that allowed generating tokens without collateral
This type of attack is classified as 'Mint Exploit,' one of the most destructive for low to medium liquidity assets.
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⚠️ Risks in the next minutes and hours
If the invader liquidates the remaining 844 million tokens, the effects may include:
• Total price collapse
• Suspension of trading by exchanges
• Loss of market cap
• Risk of temporary delisting
• Side effects in DeFi pools, if integrated
So far, no exchange has announced an official suspension — but this could happen at any moment.
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📌 Protocol situation and next steps
The PORT3 team has not yet released a formal statement on:
• freezing of the contract
• hacker's wallet lock
• eventual rollback or compensations
• emergency audit
Currently, analysts recommend maximum caution, as liquidity has been artificially inflated and supply is distorted.
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📝 Case Summary
• 🔓 Hacker exploits vulnerability and mints 1 billion PORT3
• 💰 Total estimated value: US$ 13.07 million
• 💸 Already drained: US$ 2.03 million converted to BNB
• 🎯 Remaining risk: 844 million tokens still in the invader's wallet
• 📉 Price plummets and sentiment turns to panic
• 🛑 Possible suspension of trading in the next few hours
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