EDGE Plummets 65% on June 2; edgeX Foundation Denies Hack, Cites Market Manipulation

EDGE-2.02%
EDGEX-51.46%
According to edgeX Foundation, on June 2 morning, EDGE plummeted 64.9% to $0.4 from $1.14 amid concerns about potential protocol hacking. The foundation clarified that the edgeX protocol was not compromised and the price collapse was not a hack, exploit, or security breach. Instead, the foundation identified signs of deliberate market price manipulation by external actors and emphasized this was a market integrity issue, not a platform security problem. The foundation stated it is actively investigating the incident in collaboration with relevant exchanges and platforms.
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