River team responds to abnormal fluctuations in token prices, claiming to have encountered a market manipulation attack
On November 10, in response to the recent extreme fluctuations in the price of River Pts, the River team issued a statement addressing the related events.
River stated that this price fluctuation is not ordinary market behavior, but rather an organized and coordinated attack targeting the River ecosystem and its River Pts conversion mechanism. The attackers manipulated the market for the RIVER token through a large number of short positions and concentrated Pts conversions.
To prevent systemic collapse, the team temporarily suspended the Pts conversion function and executed market repurchase operations. After the suspension measures were implemented, the attackers quickly closed their short positions.
So many KOLs on X have been praising this project as amazing, making big money, but now the project side is starting to act, leading you to question your life
$RIVER
