Port3 Network token crashes over 80% on reports of possible exploit
Crypto Briefing
The Port3 token plummeted over 80% after an attacker minted one billion tokens and dumped them onto liquidity pools.Summary
The native token of Port3 Network, a project focused on creating a decentralized AI data layer, experienced a massive crash, losing over 80% of its value in about an hour, dropping its market capitalization from roughly $18.5 million to $3.5 million. This severe decline was triggered by reports that an unauthorized actor minted one billion PORT3 tokens and rapidly sold them across various liquidity pools, overwhelming market depth. The Port3 team acknowledged the exploit on X, confirming they had withdrawn liquidity as a protective measure and advised users against trading the token while they investigate and attempt to communicate with the hacker.
(Source：Crypto Briefing)