On the morning of November 23, the AI broker project Port3 Network confirmed that it had suffered a serious security attack, causing the price of the PORT3 Token to plummet more than 82% in just a few hours.
According to the official announcement posted by Port3 this morning, the attacker took advantage of a weakness in the BridgeIn mechanism – an important part of the chain connection infrastructure – to arbitrarily create 1 billion PORT3 Token beyond the valid total supply. This unauthorized issuance immediately put the Port3 ecosystem in a dangerous state, forcing the team to urgently withdraw a portion of liquidation to limit damage to users.
on-chain data shows that hackers Dump a large number of Token directly on the blockchain to make quick profits, but notably did not put these Token on centralized exchanges (CEX). This is a factor that helped the Port3 team react promptly: they quickly removed liquidation to prevent hackers from continuing to sell off, and at the same time, some major exchanges also immediately closed the PORT3 deposit channel to control the risk of spreading.
The next development became even more surprising when the hacker decided to burn all the remaining Token after being unable to continue Dump. This action caused the community to debate the real motive behind the incident – whether it was a profit-making attack, or the half-baked “white-hat” style that has appeared in some recent hacks, where the attacker both caused damage and tried to show goodwill by returning/burning assets.
By the end of the day, market data showed PORT3 plummeting from $0.037 to a Dip of $0.0066, a drop of more than 82% in just the morning. The price then recovered slightly to around $0.0086, but the market Capital had shrunk significantly to around $4.05 million with FDV around $8.11 million – much lower than at the beginning of the month.
