Griffin AI Suspected of Abandoning Project! Binance Alpha’s Vetting Process Sparks Controversy

TradingKey – Griffin AI, part of Binance’s Alpha program, minted a massive number of new tokens, causing its price to crash over 80%.

On Thursday, September 25, Griffin AI unexpectedly issued 4.8 billion new tokens—far exceeding its original total supply of 1 billion. The move triggered a steep 82% price drop.

Griffin AI Project Overview & Price Volatility – Source: CoinMarketCap

The community is now questioning whether the project has been abandoned, with widespread criticism directed at both Griffin AI and Binance. Griffin AI has not directly addressed the abandonment rumors, but issued a statement saying: “We have formally requested all exchanges to suspend trading, deposits, and withdrawals of the $GAIN (BSC) token. This measure is intended to prevent malicious activity and protect community assets.”

Binance responded: “Due to significant volatility in GriffinAI (GAIN) token’s TVL and price, Binance Alpha has removed its 4x trading volume multiplier as of 8:00 AM (UTC+8) on September 25 to safeguard user interests. Thank you for your understanding and support!”

So far, neither party has offered a meaningful remedy to affected users. The incident has damaged the credibility of both Griffin AI and Binance Alpha, prompting some users to abandon the program and migrate to competitors like OKX.