Hack VC sold off a large amount of MYX after claiming the airdrop, causing the price of MYX to plummet 58% to $0.9184.

According to crypto analyst Ai Yi (@ai_9684) and xtpa, Hack VC, a participating investor in MYX Finance, quickly cashed out after unlocking its airdrop today, causing a sharp price correction for MYX. Over the past seven hours, Hack VC received 1,279,890 MYX (worth approximately $2.157 million) from the airdrop claim contract and transferred it to two addresses:

1: Address 1: sold 445,000 MYX at an average price of $1.68, cashing out approximately $747,000;

2: Address 2: Deposited 835,000 MYX to MEXC, which is worth approximately $1.482 million based on the price of $1.77 at the time of deposit.

Previous news: MYX briefly fell below $1, with the largest drop exceeding 50% in two hours