edgeX: Launches Goodwill Compensation Plan of Up to 100,000 USDC and Releases Report on EDGE Token Flash Crash Incident

Odaily reported that on June 2nd, the price of the EDGE token dropped from $1.12 to approximately $0.32 within about an hour. This abnormal fluctuation occurred during a period of weak liquidity and was triggered by concentrated selling from multiple addresses, coupled with a squeeze on high-leverage long positions and a linked response from CEXs. Notably, the team's addresses remained unchanged during this period.

edgeX has stated that it will enhance market making and liquidity, launch a goodwill compensation plan of up to 100,000 USDC, and establish a 200,000 USDC on-chain bounty to trace addresses associated with the attack.