Overtake: "70% plunge, not hacking...large-scale liquidation of futures likely"

Overtake (TAKE), which had just seen a sharp drop of approximately 70% in the past 10 minutes, announced through its official X that "we are aware of the sharp drop in the price of TAKE and that this is not related to any security breach or hacking activity." Overtake went on to explain that "this sharp drop appears to be related to large-scale liquidations in the derivatives market and we are closely monitoring the situation. All wallets managed by the foundation and team remain secure." Coinness previously reported that TAKE had plummeted by approximately 70% in 10 minutes.