Odaily Planet Daily reports that River officially responded to the recent sharp fluctuations in the price of River Pts, stating that this incident was not a normal market fluctuation, but rather an organized market manipulation targeting the River ecosystem and its Pts conversion mechanism.

The project team stated that the attackers severely impacted the market by establishing a large number of short positions and launching a concentrated Pts conversion. To prevent systemic risk, the team temporarily suspended Pts conversion and implemented market buybacks. Subsequently, the attackers quickly closed out their positions and left the market. The River team is currently upgrading relevant mechanisms and plans to release the data publicly and hold an AMA to explain subsequent response plans.