The private key to the FinNexus contract deployer account was compromised, allowing the attacker to assume contract ownership. The attacker minted 323M FNX on Ethereum (~$6M) and 60M FNX on BSC (~$1.6M), then immediately dumped tokens on markets. FNX price collapsed from $0.356 to $0.0272 (92% decline).

According to an official statement from on-chain options protocol FinNexus, part of FinNexus’ hardware has been attacked by malware, and an unknown hacker infiltrated the FinNexus system and managed to recover the private key of the ownership of the FNX token contract. FNX was minted, transferred or sold in large numbers in a short period of time, involving more than 300 million FNX tokens (about 7 million US dollars) in BSC and Ethereum.