PORT3
Port3 Network
$0.0₃₀1169
0.00%
Port3 Network
PORT3
$0.0₃₀1169
0.00%
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About Port3 Network
Port3 Network (PORT3) is a cryptocurrency that operates as a Web3 Data Layer protocol, designed to aggregate and standardize a wide range of data, including both off-chain and on-chain information. Its development has been led by prominent entities in the crypto space, including Jump Crypto and Kucoin Ventures, with support from other major institutions. The goal of Port3 Network is to create a universally accessible Social Data Layer that can be integrated across various decentralized applications, enhancing the utility and accessibility of data in the Web3 ecosystem. The token underwent a full migration following a 2025 security incident caused by a vulnerability in an external token standard.
Port3 Network's (PORT3) primary function is to aggregate and standardise both off-chain and on-chain data. This process aims to create a universally accessible and powerful Social Data Layer. The Social Data Layer is intended to be widely applicable to various decentralised applications (DApps).
The primary use of Port3 Network is to build a comprehensive protocol for aggregating and standardising diverse data types in the Web3 space. By combining off-chain and on-chain data, Port3 Network aims to develop a Social Data Layer that can be implemented across multiple DApps. This utility positions Port3 Network as a tool for enhancing data accessibility and interoperability in decentralised applications.
Port3 Network was established under the leadership of Jump Crypto and Kucoin Ventures. These organisations were joined by several other institutions including EMURGO, Momentum6, SNZ, Adaverse and Gate Labs in supporting the project's development.
In November 2025, the original PORT3 token contract was compromised due to a vulnerability in the third-party CATERC20 standard, which had been adopted to support cross-chain compatibility. After ownership was renounced for decentralisation purposes, the contract's flawed validation logic treated the absence of an owner (represented by the value 0) as a valid condition for permissioned actions.
This led to a breach in which a malicious actor registered their own address with authorisation to mint tokens via cross-chain interaction. Exploiting this flaw, they deployed a counterfeit token on Arbitrum One and used a cross-chain call to trigger minting of 1 billion PORT3 tokens on BNB Chain, which were subsequently sold on decentralised exchanges.
Following the incident, Port3 Network initiated a token migration plan to restore ecosystem integrity. A snapshot was taken immediately after the attack, and all valid user holdings were preserved through a 1:1 token swap. To offset the excess supply minted during the exploit, 162,750,000 team-held tokens were permanently burned.
Key steps in the migration included:
- Deploying a new token contract exclusively on BNB Chain
- Distributing new tokens to affected users via batch on-chain transactions
- Working with centralised exchanges to coordinate updated listings and trading support
- Preventing the attacker from receiving new tokens or exploiting the new contract
The migration aimed to fully restore the original supply balance while maintaining continuity for existing users.
