Polyhedra releases preliminary event report: plunge caused by chain reaction triggered by coordinated liquidity attacks on the chain

According to Polyhedra's official release, the ZKJ token plummeted by over 85% on June 15th, with preliminary investigations indicating a chain reaction triggered by an on chain coordinated liquidity attack. Multiple addresses quickly dumped ZKJs after large withdrawals from PancakeSwap, causing price imbalances in the KOGE/ZKJ pool. At the same time, Wintermute transferred approximately 3.39 million ZKJs to the centralized exchange (CEX) in a short period of time, intensifying selling pressure. CEX experienced a strong consolidation of over 94 million US dollars, further triggering a waterfall like decline. Polyhedra stated that the team did not sell ZKJ and only participated in liquidity provision, and will release a more detailed analysis in the future.