fwDETH price fell over 95% to $85 at one point during the day and is now at $700 still off anchor
On October 11, according to ticker data, after the $35 million fwDETH theft earlier today, the price of fwDETH, the ETH-packed token on Blast's chain, once fell more than 95% to around $85, and has now continued to rebound to $700, with a 24-hour drop of 63.77%, in a severely de-anchored state.
Note: DETH was obtained by depositing ETH (1:1 exchange rate) on the Blast ecosystem's Duo Exchange, and since there was no redemption operation, the exploiters dumped dETH on DEX triggering the current sharp price drop.
As previously reported, a phishing attack on a whale address earlier today resulted in the loss of 15,079 fwDETH, valued at approximately $35 million. Lookonchain, an on-chain data analyst, said the address may be linked to Continue Capital.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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