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

Odaily Planet Daily News On June 2, the price of the EDGE token dropped from $1.12 to approximately $0.32 within about an hour. This abnormal volatility occurred during a period of thin liquidity, triggered by concentrated selling from multiple addresses, coupled with a cascading liquidation of high-leverage longs and contagion from CEXs. During this period, the team's address showed no movement.

edgeX 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.