GMGN is a real, heavily used terminal, but it has had security problems. In October 2025 it had an MEV-protection failure and a phishing attack in the same week, and it says it compensated affected users in full both times. The bigger everyday risks are fake GMGN sites and bots, and the fact that it trades from hot wallets.
Risk notice: Crypto trading is high risk and memecoins can go to zero in minutes. Trading bots use hot wallets. This page is not financial advice; only trade what you can afford to lose.
Facts on this page were checked September 26, 2026. For fees and features, see our full GMGN review.
What we checked
| Check | What we found |
|---|---|
| Company/team | Founded June 2023; co-founder known as Haze (ChainCatcher). No legal entity or location published on its About page |
| Custody | GMGN says it cannot move user balances; its Telegram wallet docs say keys cannot be exported; withdrawals need 2FA and a whitelist (GMGN docs) |
| Known incidents | October 2025 MEV node failure on BNB Chain (729 transactions) and phishing attack (about 107 users); both compensated |
| Audits | No public third-party security audit found |
| Phishing risk | High: documented fake GMGN sites and fake Telegram bots |
Who runs GMGN?
GMGN's About page describes the name as "Good Morning, Good Night" but doesn't name a company, team or location. In a March 2025 interview with ChainCatcher, co-founder Haze said GMGN was established in June 2023, first as a memecoin tracking tool, and that he previously worked at a quantitative trading firm. Haze is also the person who announced GMGN's incident responses in 2025.
Usage is large. DefiLlama tracked about $53 million in GMGN fees over 30 days across 11 chains, about $5.6 million of it on Solana (DefiLlama, checked September 25, 2026). A long track record and big user base make it legitimate. The team is less publicly documented than, say, Axiom's.
Custody: who controls your funds?
GMGN's safety page says: "GMGN does not perform any operations on the user's wallet, and we do not have the ability to transfer any user's wallet balance."
Key export is less clear. GMGN's Telegram wallet docs say: "For the safety of user wallet funds, GMGN all chains ( SOL chain / EVM chain / Tron chain ) are prohibited from exporting private keys," and that imported wallets can't be exported either. A March 2025 report quoted Haze saying the same. A July 2026 CoinCodeCap review says GMGN does let you export the key. We could not confirm which is current, so check your own wallet settings. If export is blocked, treat your GMGN wallet as something you leave only by withdrawing.
Withdrawals have been moved to the website and, per the same docs, need Google Authenticator 2FA, a whitelist of withdrawal addresses and a 3-hour wait before the first withdrawal. That adds friction, but also makes a hijacked Telegram account less useful to a thief.
The October 2025 incidents
1. MEV protection failure (October 25, 2025). GMGN's anti-MEV nodes on BNB Chain were sandwich-attacked from 08:35 to 21:34 UTC, about 13 hours, affecting 729 user transactions. GMGN restored the nodes and reimbursed users automatically. Haze said: "Affected users do not need to take any action. The reimbursed funds will be automatically credited to their wallets" (Crypto Economy). This was on BNB Chain, not Solana.
2. Phishing attack (October 28, 2025). Attackers used a forged third-party token website to trick about 107 users into triggering unauthorized transactions. GMGN said it reimbursed losses into users' GMGN accounts the same day, and Haze said "similar phishing attacks have been completely blocked" (PANews). GMGN did not publish a dollar total.
Paying users back quickly counts in GMGN's favor. In our method, two incidents, each compensated, put GMGN's security sub-score at 8.0 (every bot starts at 9). We found no confirmed platform exploit of GMGN on Solana as of September 26, 2026.
Fake GMGN sites and bots
- Fake websites. PCRisk documented a fake GMGN site in July 2025 that asked visitors to connect a wallet, then used a malicious signature to run a drainer. The real domain is gmgn.ai.
- Fake Telegram bots. GMGN's bot docs list five official Solana bots (@US_GMGNBOT, shown as GMGN_US, plus @GMGN_sol_bot, @GMGN_sol02_bot, @GMGN_sol03_bot and @GMGN_sol04_bot) and warn: "Any other bots are scammer bots which will drain your wallet." The docs also say scammers swap a capital "I" for a lowercase "l" in the name to pass as GMGN.
- Fake admins. GMGN's Q&A says official admins "will never take the initiative to send private messages to anyone, nor will they ask you for private keys."
- Poisoned airdrops. The safety page warns about fraudulent airdropped tokens and NFTs that link to malicious sites. Its advice: "Don't be curious."
Safety checklist for GMGN
- Bookmark gmgn.ai and open bots only from its official docs. Check the exact bot username.
- Turn on Telegram two-step verification so a SIM swap can't take over your bot (Telegram security guide).
- Set up withdrawal 2FA and a whitelist as soon as you open the account.
- Keep a small balance in a dedicated trading wallet and withdraw profits often.
- Read every signature. GMGN's own rule: "What you see is what you sign."
- Revoke unknown approvals regularly, as GMGN's safety page recommends.
- Ignore random tokens and airdrops that appear in your wallet.
- Guard your clipboard. GMGN's Q&A suggests typing part of any key by hand, because clipboard-reading malware steals keys.
- Use anti-MEV protection, and remember it can fail, as the October 2025 incident showed (MEV protection explained).
More in are Solana trading bots safe? and how to use GMGN.
Our verdict
Our editorial view: GMGN is legit, and its response to the October 2025 incidents was fast and complete. It is reasonable to use for copy trading and wallet tracking with a small, dedicated balance. Two incidents in one week, a thinly documented team and unclear key export are the reasons it doesn't score higher on security. GMGN scores 8.7/10 and sits third on our list, which is an editors' order (usage, score and ease of starting), not a pure sort by score.
For other options, see Axiom, Trojan or our ranked GMGN alternatives. Every score is on the Solana trading bot ranking.
