Port3 plunged 90% overnight after a cross-chain bridge exploit minted roughly 1 billion unauthorized tokens. The attack targeted the BridgeIn function, which lacked proper signature checks and verification processes, enabling the mint. About 162.75 million of these tokens were sold for around 199.5 BNB, driving the price from $0.03 to $0.0066. Exchanges halted trading and the team pulled on-chain liquidity as they planned a post-mortem recovery.
Following the mint, attackers sold a portion of tokens quickly, generating roughly $120,000 in BNB and triggering an immediate price crash. The current market cap sits under $5 million, reflecting sustained market caution. The pause allowed the team to assess the exploit and limit further damage, with withdrawals temporarily restricted to protect user funds. A post-incident burn helped stabilize the market slightly, though volatility remains high and price has not returned to pre-exploit levels.
Bybit and other centralized exchanges paused deposits and trading as a precautionary measure. The Port3 team has confirmed ongoing investigations into the exploit, with a full post-mortem report expected but not yet released. Liquidity remains partially removed to prevent immediate market manipulation, and updates indicate continued monitoring of the bridge system for vulnerabilities. Smart contract audits may be revisited to secure the protocol, and users are advised to follow official Port3 channels for verified updates.
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