$KOGE and $ZKJ just collapsed.
Both liquidity pools were drained.
Over $7 million was dumped in minutes.
The “stablecoin” of Alpha farming just got rugged.
For weeks, ZKJ looked untouchable.
It held over $20M in liquidity, traded with near-zero slippage
And became the go-to token for farming Binance Alpha points.
It was so stable, many called it a “Binance-backed stablecoin.”
But that was an illusion.
The first signs of trouble came from KOGE.
Its pool ran out of USDT, leaving LPs stuck without exit liquidity.
Traders rushed to swap KOGE into ZKJ
Starting a wave of panic selling and breaking ZKJ’s price floor.
Both tokens started to fall
Then the coordinated exits began.
Multiple wallets pulled millions in liquidity
Then dumped huge amounts of ZKJ back into the market.
Some wallets first swapped KOGE into ZKJ to inflate volume and mask their exits.
Others dumped directly causing violent price drops.
The collapse didn’t stop there.
Just as liquidity dried up, Polyhedra’s token unlock hit releasing 15.5 million
ZKJ tokens Worth over $30M, into open circulation.
The timing couldn’t have been worse.
Behind it all was the same farming meta seen before.
Traders exploited low fees, artificial spreads, and closed-loop wash trading to farm Alpha points on Binance.
It created the illusion of demand
But the structure collapsed instantly.
Polyhedra finally responded.
They said sorry.
Asked the community to stay together.
Promised that all future plans are still going.
But after losing 83% in one hour,
Can anyone still believe in this?
$ZKJ
