risky

EGG hack: 20% supply minted, trading halted

I describe a recent EGG incident: Sasha rolled back a transfer and recovered the stolen funds, then loudly asked on Twitter why others had rolled the chain back.

Shortly before that, EGG was hacked and the attacker minted about 18,000 new EGG into circulation. Total circulating supply was around 90,000, so the attacker added roughly 20% by creating new tokens.

Markets reacted—wx, swop and puzzle trading for EGG was halted and the attacker had no easy place to sell the newly minted coins.

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Analysis

The situation shows acute protocol risk: an attacker minted a material share of supply, forcing centralized and DEX venues to halt trading; on-chain reversals recovered funds but created governance an...

Recommendation

I would treat EGG as high-risk right now—avoid new buys until the project publishes a clear forensic report, fixes the minting/issuance vulnerability, and trading liquidity normalizes.

Disclaimer

The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.

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