NetMind AI claimed that the token crash was caused by an individual miner being hacked, not by a platform-wide exploit.
Blockchain artificial intelligence (AI) platform NetMind denies rumors that it was hacked on March 15, claiming in an X post that the exploit was limited to an individual miner and did not affect the platform itself. The news comes after the platform’s token, NMT, had dramatically fallen due to a large sale, which led to speculation of a widespread exploit.
NetMind AI is a cloud computing platform that allows graphics processing unit owners to process data in exchange for tokens. It utilizes a blockchain network called “NetMind Chain,” and NMT exists on this network. There is also a version of the token on BNB Smart Chain.
At approximately 1:15 pm UTC, the price of NMT nosedived from $11.34 to $2.77, a decline of nearly 76%.
