Map Protocol Token MAPO Plummets 96% After Quadrillion-Token Mint Exploit

According to CoinGecko, MAPO, the native token of Map Protocol, plummeted 96% on Wednesday after an exploit of the Butter Network cross-chain bridge allowed an attacker to mint a quadrillion tokens. The token's value collapsed from around $0.003 to $0.0001 in hours. The attacker used a newly created account to dump approximately 1 billion MAPO tokens and drain about 52 ETH (worth roughly $180,000) from Uniswap liquidity pools, reported Blockaid.

Map Protocol paused its mainnet and began migration while the investigation continues. The project said it will invalidate all remaining tokens held by attacker-controlled addresses and exclude them from any future snapshot or conversion process. The Butter Network confirmed user funds were not at risk and paused ButterSwap.