US EditionPolyhedra Blames Liquidity Attacks, Promises Buybacks, Days After Sudden 80% Price Drop
- On June 15, 2025, Polyhedra Network's native token ZKJ plummeted 83%, falling from around $2 to below $0.31 amid a liquidity crisis related to the ZKJ/KOGE trading pair.
- The crash was preceded by an unusual spike in on-chain activity, large token withdrawals from major investors, and the transfer of millions of ZKJ tokens by Wintermute to centralized exchanges, which together triggered a series of liquidations.
- To help stabilize the market, Polyhedra’s team contributed around $30 million worth of liquidity across USDT, USDC, and BNB, while Binance announced that starting June 17, trading volumes from Alpha token pairs would be excluded from the calculation of Alpha Points.
- Between 12:00 and 14:00 UTC, liquidations of leveraged long positions totaling approximately $94 million occurred, deepening the market decline before token prices temporarily surged by over 50% after a detailed crash analysis was published.
- Polyhedra is thoroughly investigating the incident, emphasizes that the core network remains stable, and has announced a buyback strategy aimed at restoring confidence following the significant market downturn.
20 Articles
20 Articles
Polyhedra Blames Liquidity Attacks, Promises Buybacks, Days After Sudden 80% Price Drop
Co‑founder Tiancheng Xie revealed that Polyhedra Network is launching a buyback strategy to support ZKJ token prices after an “egregious” liquidity attack wiped out over 80% of its value.
Polyhedra’s ZKJ Plummets 80% Amid Liquidity Crisis, ‘Abnormal’ Transactions
Decentralized lending platform Polyhedra’s native ZKJ token collapsed during the weekend, dropping 83% from around $2 to under $0.31. The price action followed a series of “abnormal” onchain transactions, triggering a liquidity crisis that rippled through the broader Binance Alpha ecosystem tied to ZKJ and KOGE. KOGE is a token issued by 48 Club DAO, closely linked to ZKJ through shared liquidity pools, which has been incentivized as part of Bi…
Polyhedra Network Releases Report On 80% ZKJ Token Crash, Suspects Coordinated Liquidity Destabilization
Developer of zero-knowledge interoperability infrastructure, Polyhedra Network published a preliminary report detailing the over 80% drop in the ZKJ token’s value on June 15th, 2025, outlining confirmed on-chain activity and market behavior associated with the event. The report cites immediate contributing factors such as a synchronized on-chain liquidity withdrawal, large-scale token deposits to centralized exchanges (CEXs) by Wintermute, and …
Polyhedra Cites Liquidity Attacks, Wintermute Deposits Behind ZKJ Price Drop
The post Polyhedra Cites Liquidity Attacks, Wintermute Deposits Behind ZKJ Price Drop appeared on BitcoinEthereumNews.com. The team behind Polyhedra Network reported several factors that likely contributed to an 83% price crash of its ZKJ token on Sunday. In a Monday X post, Polyhedra attributed five significant factors causing Polyhedra Network (ZKJ) to fall to $0.32 from $1.92 within hours — a drop of more than 80%. According to the blockchain…
ZKJ Price Freefalls 80%, Relief Or Further Drop Ahead? - Data Intelligence
Key Notes ZKJ fell from $2 to $0.3772, wiping out over $439 million in market cap. Six whale wallets sold $9.66 million worth of token, sparking mass liquidations. Upcoming June 19 token unlock could put further pressure on the token price. Polyhedra Network’s native token ZKJ suffered a freefall in the late hours of June 15, shedding nearly 80% of its value in just one day. This dump has sent shockwaves through the community and wiped out over…
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