On June 17, according to HT market data, ZKJ briefly rose above $0.75 this morning, now falling back to $0.57; with a 24-hour increase of 88%, its market value has recovered to $179 million.
Earlier today, the ZKJ team released a preliminary report on the token price crash, conducting an initial analysis of the over 80% price drop on June 15. The main immediate causes include: a coordinated on-chain liquidity attack resulting in massive token injection, large transfers by Wintermute to centralized trading platforms, and subsequent chain liquidations on these platforms.
Tiancheng Xie, co-founder of Polyhedra (ZKJ), posted on social platforms, "We will buy back more tokens. Now we need to clarify the current situation and must prevent similar financial attacks in the future."
