PANews reported on August 1 that the Kujira team stated on the X platform that it had decided to use part of the operating funds for the liquidity and activity promotion of the ecosystem, a decision that was considered reasonable at the time. However, a series of events that followed, including security vulnerabilities and social engineering attacks, led to instability in the market. Some "influencers" on social media mistakenly called this situation "running away", which is not true, but it undoubtedly exacerbated the panic in the market. The team emphasized that there are still 14 million KUJIs in the foundation's treasury that are safe and sound, and the statement that the entire treasury is at risk is inaccurate. In order to enhance transparency and accountability mechanisms, Kujira will set up an operating DAO to manage the treasury and core protocols.
Earlier news, KUJI token fell 40% due to the liquidation of the Kujira Foundation's operating wallet .
