Co-founder of Polyhedra Network Tiancheng Se announced the buyback of ZKJ tokens after a sharp price drop from ≈ $2 to $0.30 in a few hours. The company considers the incident a 'financial attack' and promises to strengthen protection against such actions.
In the Polyhedra report, the reasons for the cryptocurrency's price drop include coordinated large liquidity injections and mass token sales on PancakeSwap, large deposits on centralized exchanges, and related cascading liquidations. The buyback may support the recovery of ZKJ.
The project team also promises to develop tools that will warn of the risks of similar crashes in the future.
