The story behind koge and zkj, a personal version combined with various messages, not guaranteed to be true, but just for fun.
This was done by the koge gang. The old blue man initially set up v4 for bait, but unexpectedly v4 was banned by Binance.
Then the blue man’s gang bought 20 million dollars of zkj to create an LP for koge and zkj, while on the other side they crazily promoted the high LP returns of alpha, pushing bn to engage in alpha finance, thereby attracting a lot of wild LPs.
Later, they closed the net through the LPs of koge and zkj, swapped koge for zkj, then sold off to exchange for USDT, directly pushing zkj down to the floor.
The zkj project side realized what was happening and also started to sell off for USDT in a frenzy. Because if zkj didn’t sell, all the USDT would be taken away by the blue man’s gang.
Later on, the wild LP friends noticed that the price was dropping crazily, at which point they also started to panic and sell, leading to a stampede event.
The price of zkj on major exchanges was pushed down to the floor, creating a price difference with the on-chain price, so they closed the doors and wouldn’t allow withdrawals, starting to arbitrage on-chain themselves, and when the on-chain price dropped to the secondary price, they opened withdrawals.
This ultimately formed the current price.
Summary:
The blue man’s koge gang has been plotting for a long time;
The zkj gang might have been plotting as well, but this incident was more of a passive defensive sell-off (forced to start selling off before closing the net);
The LP retail investors saw small profits and became complacent;
Members of the bn clique might have participated and cooperated with the koge gang's actions and profited from it;
Finally, it is suggested that the koge gang and the zkj gang hold a debate to defend themselves.
