Exclusive Interview with Pundi AI Co-Founder: Security Vulnerabilities, Delisting in South Korea, and New AI Data Business

Recently, Pundi AI has attracted significant attention due to a hacking attack and its delisting from a mainstream exchange in South Korea. This article features an exclusive interview with Pundi AI co-founder Danny Lim, providing a comprehensive review of the events and discussing the future development direction of the project.

Review of Security Vulnerability Incidents

On July 12, Pundi AI suffered a hacker attack, resulting in the abnormal issuance of 1 million tokens. The hacker exploited a vulnerability in the token migration contract to gain admin privileges ahead of the deployment of a new contract in February.

After discovering the anomaly, the team chose to quietly track and freeze the assets to avoid alerting the thief. This strategy proved effective, successfully intercepting about 95% of the stolen assets. Ultimately, 87% of the assets were recovered, the project party bore nearly 2 million dollars in losses, and full compensation was provided to users.

Danny stated that this "front-running attack" method is very covert and has recently affected multiple projects. He urges all project parties planning to migrate tokens or upgrade contracts to be vigilant against such risks.

The History of Delisting by the Korean Exchange

On July 28, the Korea Digital Asset Exchange Association ( DAXA ) requested its members to delist the Pundi token, citing "untimely information disclosure." Danny believes this reflects the extreme emphasis the Korean market places on information transparency.

"Between 'quietly recovering assets' and 'public disclosure at the first opportunity,' we did not strike a good balance. This is a painful lesson." Danny stated that he hopes to give a warning to all projects that have launched or plan to launch in South Korea.

Regarding the possibility of relisting on the Korean exchange, Danny admitted that the difficulty is very high. However, they are still actively communicating and hope to regain trust.

Future Development Plan

In response to the current predicament, Pundi AI has formulated three major plans:

1. Increase investment in decentralized exchanges to provide users with sufficient liquidity.
2. Vigorously promote the new AI data product Data Pump
3. Announce token buyback and airdrop plans to reward users who support the project.

New Attempts in AI Data Assetization

Danny highlighted their new product Data Pump, describing it as "the Launchpad for AI datasets." Users can package various content data into NFTs and stake them to generate tokens for trading, achieving the assetization and monetization of data.

Compared to other Web3 AI projects, Pundi AI focuses more on high-quality data in specialized niches and has developed the AI AMM feature. Danny stated that they currently have petabyte-level on-chain data storage.

Prospects for the Development of Web3 AI

Danny believes that the bottleneck in the development of Web3 AI lies in the absence of truly useful applications. He points out that "decentralized computing power" is more like a pseudo proposition at this stage, and the real value of blockchain in the AI field is in privacy protection at the data level.

"The Web3 AI track is likely to迎来真正热潮, and we may need to wait for traditional AI giants to actively embrace blockchain technology to provide data protection features for users. This day shouldn't be too far off." Danny said.