ZKJ big dump 85%: on-chain Liquidity attack triggered $94 million Liquidation storm

RumbleValidator · 2025-06-17T00:02:29+00:00

The ZKJ Token fell over 85% on June 15, with preliminary investigations indicating that an on-chain liquidity attack caused a chain reaction, with multiple addresses dumping ZKJ after large withdrawals from the DEX, leading to price imbalance and increased selling pressure, ultimately resulting in over $94 million in Liquidations on the CEX. Polyhedra stated that the team did not sell ZKJ and will release a detailed analysis later.

RumbleValidator

2025-06-17 00:02:29

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[Bitpush] According to reports, the ZKJ Token plummeted over 85% on June 15, with preliminary investigations indicating that it was triggered by an on-chain coordinated liquidity attack that caused a chain reaction. Multiple addresses rapidly sold off ZKJ after large withdrawals from a certain DEX, leading to a price imbalance in the KOGE/ZKJ pool. At the same time, Wintermute transferred approximately 3.39 million ZKJ to the Centralized Exchange (CEX) in a short period, exacerbating the sell pressure. Over $94 million in Liquidation occurred within the CEX, further triggering a big dump. Polyhedra stated that the team did not sell ZKJ and only participated in liquidity provision, and will release a more detailed analysis later.

ZKJ1,6%

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