ZKJ team releases preliminary report on token price plunge, with triggers including on chain liquidity attacks

BlockBeats News: On June 17th, the ZKJ team released a preliminary report on the sharp drop in token prices, analyzing the over 80% drop in ZKJ token prices on June 15th. The main immediate triggers include: a massive injection of tokens caused by a collaborative on chain liquidity attack, large transfers from Wintermute to centralized trading platforms, and chain clearing on these trading platforms. Preliminary investigations have shown that a large number of token transfers initiated by Wintermute have occurred simultaneously with extreme market volatility, while liquidity has also been concentrated and withdrawn from the ZKJ/KOGE pool on PancakeSwap. Specifically, as follows: 1. Coordinated liquidity attacks and selling behavior on PancakeSwap; 2. Binance Alpha incentive structure and liquidity vulnerability; 3. Liquidity availability of ZKJ on PancakeSwap; 4. Chain clearing of derivatives on centralized trading platforms; 5. Wintermute's large CEX deposits during the crash period.