FinNexus said its ERC-20 contract was hacked after control of the FNX smart contract moved to an unknown wallet on Ethereum and Binance Smart Chain. The new owner minted 323 million FNX on Ethereum and 60 million FNX on BSC, then sold tokens for Ethereum and Wrapped Bitcoin, driving FNX down by more than 80% and briefly as much as 92%. FinNexus urged users to withdraw from pools while the team investigated. Observers questioned whether the event was a stolen private key, an insider action, or a rug pull because the contract owner was changed before the mass minting and sell-off.