What to Know:
- GriffinAI relaunches GAIN with a $2.5M recovery fund.
- Binance & GriffinAI to do a 1:1 swap to protect users.
- GAIN down 85% from highs but rebuilding trust fast.
GriffinAI has officially relaunched its token GAIN, marking what Oliver, the founder, called “a moment of pride for the entire community.”
Trading has now reopened on Binance Alpha 2.0 and KuCoin, bringing the project back online after weeks of turbulence following a $3 million exploit last month.
Community-Led Recovery
In a message shared earlier today, GriffinAI’s founder celebrated how the comeback was made possible “through genuine collaboration, shared responsibility, and trust between GriffinAI, Binance, and our amazing community.”
The founder highlighted that when the BNB bridge exploit hit weeks ago, the challenge felt overwhelming. Instead of retreating, the team worked with partners to protect users and rebuild confidence.The result was that Binance verified a 1:1 token swap for eligible GAIN holders. Binance Alpha paid for half of the replacement tokens with its own money, and GriffinAI paid for the other half. This was called one of the first real joint project-exchange recoveries in crypto history.
GriffinAI started a $1 million Buy-Back Program, which is part of a larger $2.5 million Recovery Fund. The goal of the program is to support the token’s price and make up for users who were affected. The team said they would make a full record of buy-backs public for the sake of openness.
Technical Hurdles
The relaunch wasn’t without issues. During its Prime Sale event on October 13, Binance Wallet’s network got congested because it was also the day of GriffinAI’s contract swap on Binance Alpha 2.0. This caused some users to worry about transactions that were stuck and temporarily delayed participation data.
However, Binance confirmed that no user funds were affected and GAIN trading resumed smoothly, though still down more than 85% from its September highs. Analysts viewed this as a cautious but steady re-entry for the token.
The original exploit in September allowed attackers to mint 5 billion GAIN tokens, collapsing the price by about 90% within hours. GriffinAI’s CEO, Oliver Feldmeier, described the event as a “stress test” for both the protocol and its leadership.
Exchange Relaunches and Community Trust
GAIN’s return has been strategic. The token was relisted on HTX, MEXC, and WEEX on October 6, with Gate.io and KuCoin joining shortly after.
All verified holders from before the exploit received a 1:1 swap, while users who bought tokens after the attack are receiving gradual allocations through the $2.5 million compensation pool.
Trading volume currently sits around $11.2 million, roughly 90% below pre-exploit levels, but the relaunch avoided inflation of supply a critical move for long-term recovery. Market cap has recovered to $3.48 million, compared to about $50 million at launch. The founder emphasized that this stage is “not about hype, but about rebuilding step by step with transparency and trust.”
GAIN Price Volatility
GAIN saw a sharp 151% weekly surge following the relaunch, but dropped about 29.98% in the last 24 hours, mirroring broader crypto weakness. Analysts attribute the dip to post relauch sell pressure, swap complexities and lingering security concerns. At the time of writing, GAIN is trading around $0.01382.
Still, market observers say the relaunch demonstrates resilience and real leadership with GriffinAI showing that collaborative recovery between projects and exchanges can be possible in Web3.
Bottom Line
GriffinAI’s recovery plan shows how a project can turn a crisis into cooperation. The team is trying to win back trust after a big hack by being open about their leadership, sharing responsibility, and setting up a $2.5 million buy-back and recovery fund.
In the next few weeks, we’ll find out if these efforts can stabilize GAIN’s price and restore its reputation, or if the AI-DeFi project still has more work to do.
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