$GAIN Price Crash 90% After Griffin AI Hack, Can Binance Help?

Griffin AI Hack Today: Can Binance Support Fix $GAIN Price Crash 90%?

The Griffin AI Hack has taken the crypto world by surprise today. The $GAIN token, which was launched on September 24 at a good price, has suddenly dropped by 90% in just one day.

If you’ve been hearing about Griffin AI news today, you might know that its price has been going up and down a lot. Let’s uncover what happened, why price crashed today, and how Binance is trying to help fix the situation.

How the Griffin AI Hack Happened Today: An Inside Look

So, what happened with the $GAIN Hack?

• Fake Contract Setup: The hacker tricked the system by using a fake Ethereum contract. This made it look like the contract was real when it wasn’t.

• Minting 5 Billion Tokens: As per lookonchain recent data, they then created 5 billion tokens on the BNB Chain, which caused a lot of extra assets to flood the market.

• Selling the Tokens: After making the fake tokens, the Griffinai hack mastermind started selling them off, which caused the price to drop quickly.It was a well-planned attack that surprised everyone.

Let’s now look at how Binance supports Griffinai assets from this unusual incident.

Binance Wallet Support : Immediate Actions and Protections for Users

As soon as the minting and droopping news was discovered, Binance helped limit the damage and made sure people didn’t lose more money.

As per Binance official X post, they have removed tokens (on-chain liquidity) from the market, and trading for $GAIN on BNB Chain has been stopped. 

No trading, deposits, and withdrawals can be done now to keep the situation under control, which also led to the airdrop suspension at the time being.

Griffin AI Price Crash After $GAIN Hack: 90% Drop Explained

The Griffin AI price crash hack has been surfacing around the industry which led to token’s  90% drop overnight. The asset launched at the price around $0.163, and now it's down to $0.03254.

As per TradingView price chart analysis, my observation signals these major reasons leading the crash:

• Panic Selling: When the $GAIN hack news came out, everyone rushed to sell their tokens.

• Huge Trading Volume: The number of $GAIN tokens being traded went up by an unbelievable amount—12663932.72%. This happened because of the new token launch and Binance listing, but mostly because of panic selling.

• RSI: It shows a number of 66.84, meaning the token is in the “overbought” zone.

• MACD: It shows a positive signal, which means the selling pressure is going down, and there might be a chance for the price to recover soon.

Key Updates Every Investor Should Know Now

There are a few things every investor should know right now:

• Investigation Ongoing: The team is still checking how the breach happened and will update us soon.

• Ethereum $GAIN Is Safe: The breach only affected $GAIN on BNB Chain, not on Ethereum.

• Griffin Airdrop Paused on Binance : The free token giveaway is paused, so you can’t claim any tokens for now.

Griffin AI Coin Price Prediction: Will Price Recover or Not?

Short-Term: Right now, the price might go up a little, but it will probably stay between $0.03000 and $0.03500 for now.

Mid-Term Outlook: For now, the price of might stay between $0.025 and $0.030 until things get more stable.

Long-Term Griffin Price Prediction : In the future, if it solves the breach problem and gains back the trust of its investors, the price could reach $1.

Conclusion: Is GriffinAI Real or Not?

The Griffin AI hack led to a substantial price decrease, but there is evidence it might eventually return. The Binance team is working diligently to curb the hack and protect the users, so yes its real.

But right now, things are uncertain, so it is important to proceed with caution. If you hold $GAIN tokens, it is important to wait for additional information to make a better-informed decision about selling or holding. Always make sure to do your own research before making any decisions.