edgeX releases report on EDGE token flash crash incident and launches goodwill compensation plan of up to 100,000 USDC
According to ChainCatcher, edgeX has released a report on the abnormal price volatility of the EDGE token, stating that the price of EDGE fell from $1.12 to approximately $0.32 within about one hour. The flash crash was caused by a combination of large-scale sell-offs by multiple addresses during periods of low liquidity, high-leverage long liquidations, and CEX linkage. No changes occurred to team addresses during this period.
edgeX stated it will strengthen market making and liquidity, and has set up an on-chain bounty of 200,000 USDC to investigate addresses linked to the attack. Meanwhile, users who incurred actual realized losses due to EDGE long positions being liquidated or stop-loss executed on edgeX Perp V1/V2 within the specified window will be compensated by the platform based on their actual loss, with a cap of 100,000 USDC per person. 50% will be paid in USDC within 7 days after review, and the remaining 50% in EDGE according to the 7-day TWAP during the first week of April 2027.
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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