Polyhedra releases preliminary investigation report on ZKJ token prices

Foresight News reports that Polyhedra has released a preliminary investigation report on the price of ZKJ token. ZKJ token experienced a price drop of over 80% on June 15th, and the preliminary investigation suggests that the cause was a chain reaction triggered by a coordinated on chain liquidity attack. Multiple addresses quickly sold ZKJ after a large withdrawal from PancakeSwap, causing an imbalance in KOGE/ZKJ pool prices; At the same time, Wintermute transferred a large amount of about 3.39 million ZKJs to the centralized exchange (CEX) in a short period of time, intensifying selling pressure; CEX experienced a strong consolidation of over 94 million US dollars, further triggering a waterfall like decline. In addition, the team has announced the launch of the ZKJ token repurchase plan, and the current coin price has shown a slight rebound.