After Port3 Network was hacked, officials decided to issue new tokens and contracts to restart the ecosystem, and $PORT3 returned to zero.
Port3 Network was attacked due to the CATERC20 vulnerability, the exchange has stopped deposits and withdrawals, and the official decided to issue new tokens.
(Preliminary summary: The AI project Port3 cross-chain bridge was breached: hackers frantically printed 1 billion coins and sold them, and the currency price crashed 80%)
(Background supplement: Balancer gave the hackers an "ultimatum" of 96 hours to pay back the money: otherwise they will use all means to find you)
Decentralized AI data network Port3 Network This morning (23rd) there was news of a major information security incident. Hackers illegally minted 1 billion PORT3 tokens, causing the currency price to crash by as much as 82% in just one hour. At nearly two o'clock in the afternoon, the official announced the reason for the hack through
CATERC20 has a boundary condition verification vulnerability: when the token ownership is relinquished (renounce ownership), the related function will return a value of 0, which just meets the owner verification conditions.
Port3 stated that in order to strengthen decentralization, it has actively abandoned the contract administrator rights, but inadvertently left a backdoor for hackers, and this flaw was not exposed in previous security audits.
Incident Report: $PORT3 Hacker Attack
PORT3 aimed to support the development of multiple chains, and therefore adopted @nexa_network’s cross-chain token solution, CATERC20. However, CATERC20 contained a boundary-condition validation vulnerability. After the token’s ownership…
— Port3 Network (@Port3Network) November 23, 2025
Officially will reissue tokens
After the incident, Port3 stated that it had contacted the centralized exchange to freeze the flow of suspicious tokens. In the next step, this problem will be fixed by reissuing tokens and deploying new contracts. At present, Port3 tokens have almost returned to zero, and the official will announce the asset snapshot time and operation guidelines in the future.
Users are also reminded not to click on unofficial links during the currency exchange period to avoid phishing scams.
