Gifto Hack

On November 28, 2024, Gifto (GFT) unexpectedly minted an additional 1.2 billion tokens—worth roughly $8.6 million—shortly after Binance announced it would delist GFT on December 10.

The issue arose when the Gifto team, rather than focusing on regaining user confidence post-delist notice, opted to initiate large-scale minting of GFT tokens on-chain. Observers noted that the newly created tokens were quickly sent to major exchanges, including Binance, and then sold, crashing the token’s market value. Community members criticized this approach, arguing that Binance’s grace period before delisting was misused to dump tokens.

Some called for tighter oversight from exchanges—such as freezing project-wallet deposits or implementing an immediate halt on trading to protect users from similar “last-minute” liquidity exits.