《The Story Behind Koge and ZKJ, A Personal Interpretation Based on Various Messages, Not Guaranteed to be True, But Just for Fun》
This is done by the Koge gang. The old blue man initially tried to create a buzz with V4, but unexpectedly V4 was banned by Binance.
Then the old blue man's gang bought 20 million dollars of ZKJ to form an LP with Koge and ZKJ, while on the other side, they crazily promoted the high LP returns of Alpha, pushing BN to engage in Alpha investment management, attracting many wild LPs.
Later, they closed the net through the LPs of Koge and ZKJ, exchanging Koge for ZKJ, then dumping it for U, directly pressing ZKJ down to the floor.
The ZKJ project side realized what was happening and also crazily dumped to exchange for U. Because if ZKJ didn’t dump, all the U would be taken away by the old blue man's gang.
Later, the retail friends, the wild LPs, discovered that the coin price was plummeting, and at this point, they also panicked and started selling, resulting in a stampede event.
The price of ZKJ on major exchanges was pressed to the floor, causing a price difference with the on-chain price, leading them to close withdrawals and start arbitraging on-chain, waiting for the on-chain price to drop to the secondary price before opening withdrawals again.
In the end, the current price was formed.
Summary:
The old blue man and Koge's gang had been plotting for a long time;
The ZKJ gang may have also been plotting, but this incident was more of a passive defensive sell-off (forced to start dumping before they could close the net);
LP retail investors saw small profits and lost their composure;
Members of BN's friend group may have participated and cooperated with Koge's gang's actions, profiting from it;
