From $2 at the start of the year to an insane pump all the way to $49 against the market trend, the legendary token DEXE seems to have found the source of its recent drop. On-chain tracking blogger AI 姨 believes this DEXE crash is related to market maker DWF and its 'golden child' Falcon. After Falcon supported DEXE as an acceptable collateral asset on its platform and obtained a certain amount of DEXE tokens, it shockingly used Ceffu's MirrorX mechanism to take these collateral-locked DEXE tokens, place them under Ceffu custody, and simultaneously generate 1:1 mirrored tokens on exchanges for trading. In the end, the mirrored positions were dumped, and the real tokens were settled afterward, triggering this massive crash. However, this is currently just speculation based on on-chain data. The community and victims are still digging for the exact cause.