🚨 POLYHEDRA IN FREEFALL: ZKJ PLUNGES 85%, BUYBACK PROMISED

ZKJ — the native token of Polyhedra Network — suffered a brutal crash, nosediving from ~$2 to just $0.30 in a matter of hours. The collapse? Allegedly triggered by a “coordinated on-chain liquidity attack.”

🔍 What Went Wrong:

Heavy dumping of ZKJ on PancakeSwap

Major exchange deposits by market maker Wintermute

A cascade of liquidations as panic selling kicked in

🛠 The Team Fights Back:

Polyhedra co-founder Tiancheng Xie broke the silence, assuring users that while the token took a hit, the underlying tech remains solid.

> “Our tech is rock solid. We won’t back down from shady financial attacks,” he posted on X.

✅ A token buyback is officially on the way, though details remain unclear.

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📉 ZKJ Price Snapshot:

🏔️ All-Time High: $3.40

🧊 Pre-crash range: ~$1.10

🔻 Current price: $0.30

Launched in March 2025, ZKJ’s dramatic drop comes just a year after Polyhedra hit a $1B valuation, backed by big names like Polychain Capital, Animoca Brands, and HashKey Capital.

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🤔 Why It Matters:

Polyhedra’s flagship product, zkBridge, is a zero-knowledge protocol aimed at revolutionizing cross-chain interoperability. Despite the crash, the team claims the core infrastructure is unaffected.

With a buyback in motion and confidence in the tech, the coming weeks will be crucial in determining whether ZKJ can rebound — or if trust has already left the building.

📌 No timeline or volume has been disclosed yet for the buyback.

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⏳ What’s Next?

Will confidence return — or is this a warning sign for other zk projects?

#cryptocrash #BuybackPlan #DeFiNews #TokenMeltdown