Port3 announces token migration plan: 1:1 exchange, the team will destroy 162 million tokens to fill the gap.

On November 24, Port3 officially announced the launch of token migration to respond to the attack incident encountered yesterday. Key points are as follows: · All affected users will receive new tokens at a 1:1 ratio, with no asset loss. · The new tokens will be deployed only on the BNB Chain, and the liquidity on Ethereum will be fully migrated. · The team will destroy 162.75 million PORT3, completely offsetting the tokens illegally minted by the hacker, ensuring the total supply remains unchanged. · The new tokens will be distributed on-chain via multi-address bulk airdrop (multi-send), and the migration plan for CEX is being communicated and confirmed, with the snapshot completed after the attack occurred. · Port3 stated that it has filled the supply gap caused by the attack, and the hacker will not obtain or mint any new tokens from the new CA. BlockBeats reported yesterday that Port3 stated a hacker exploited the BridgeIn vulnerability to mint additional (1 billion) tokens, causing the coin price to fall over 80% at one point. To protect users, the team has removed part of the liquidity and is preparing to communicate with the hacker. On-chain data shows that the hacker dumped a large number of tokens on-chain but did not deposit them into CEX. Subsequently, the Port3 team removed on-chain liquidity, preventing the hacker from cashing out further. Some trading platforms also closed their deposit channels. The hacker ultimately destroyed all remaining tokens.