What's up, guys! Are you aware of the latest serious thing that happened in the crypto world? Well, hold on because the ZKJ token from Polyhedra Network, which was supposedly going to solve life with scalability, plummeted more than 80% in just one hour! Imagine, almost a hundred million green bills evaporated just like that, poof, like magic.

Before this move, ZKJ was around 1.90 dollars, as if nothing was happening. But suddenly, bam!, it dropped to 0.32 dollars. Crazy! It has been one of the steepest declines of the year for a significant crypto project. The market capitalization of Polyhedra hit rock bottom, with only 93.8 million dollars, a drop of 83.7%! 📉

And how did this tremendous mess come about? 🤔

Well, look, according to what the experts are saying, this disaster was caused by a well-coordinated play. It seems several large wallets, the famous 'whales' 🐳, got together to do their thing.

The first thing they did was quietly start pulling liquidity from the ZKJ/KOGE pairs. Then, the traders began to exchange KOGE for ZKJ, and all of a sudden, sell the ZKJ on the market! A well-thought-out move to create chaos!

Six of these whales were the protagonists of the story, selling more than 5.23 million ZKJ for a whopping 9.66 million dollars. Imagine, that massive cash out and the pressure to sell caused the price to crash, and then came the domino effect, a wave of liquidations everywhere!

In total, more than 99 million dollars were liquidated in ZKJ positions, representing 81.3% of all cryptocurrency liquidations at that time! And the saddest part is that at least six investors lost more than a million dollars each. Poor guys! 💔

Some say that all this was like a 'perfect storm' of weaknesses. People were already expecting the unlocking of tokens, the 'airdrop farmers' (those who earn free tokens) ran off with their cash, and there was widespread panic when they saw the price plummeting.

The 48 Club DAO, who created KOGE, came out to say that all this was due to poor management, and on social media, people are furious, demanding that someone take responsibility! They say they were left 'strong on both sides', a total disaster!

And to top it all off, a token unlock is coming: 5.3% of the total ZKJ, which is about 32 million dollars, is going to be released in the coming days. So, stay super alert because this could move the needle even more.