NFPrompt, an AI-based art and NFT trading platform backed by Binance, recently experienced a significant security breach that is currently under investigation by the FBI.

The attackers successfully breached the platform, resulting in unauthorized withdrawals from the NFPrompt treasury, user accounts, and administrator wallets. However, NFPrompt took swift action to resecure its digital assets by transferring control of its smart contracts to new, secure addresses, ensuring the safety of the assets.

Following the security breach, the platform’s NFP token experienced a 10% decline as some users decided to liquidate their assets. Despite this setback, the token, which was launched just three months ago, has shown positive growth in recent weeks and is still up by over 20% in the past month according to CoinGecko.

To address further risks, NFPrompt has implemented proactive measures such as collaborating with centralized exchanges to suspend deposits and advising decentralized exchanges to cease liquidity pool activities involving the NFP token. Additionally, certain exchanges have been directed to freeze any transactions linked to the involved parties.

Established in 2023, NFPrompt allows users to create and register AI-generated art as NFTs on the blockchain. In September of the same year, Binance Labs selected NFPrompt to participate in its sixth season of the incubation program.

For more information on the latest developments in the cryptocurrency world, visit Global Crypto News.

Post Views: 2