EDGE (EDGE)

According to Wu, citing DeFiLlama data, after the platform token EDGE experienced a sudden sharp decline, edgeX's holdings have fallen from $840 million at the end of May to about $520 million currently, a drop of nearly 40%. edgeX previously stated that the abnormal price movement of the platform token EDGE appears to be a market manipulation act deliberately carried out by a specific external entity. https://t.co/YPUQQr7LhP https://t.co/rwndfKaThe

In the early hours of June 4, 2026, the bitcoin:native token experienced a severe and sudden price distortion, dropping from roughly $67K to $61K over a few hours before recovering and stabilizing in the $64K range. We believe this was a deliberate and targeted attack. The perpetrator appears to have exploited a combination of factors: thin on-chain DEX liquidity during low-activity trading hours, high leverage in perps, and cascading CEX liquidity conditions designed to trigger a flash crash. Communicating actively with the relevant CEXs is difficult, and we do not have precise data on market maker activity and liquidity conditions at the time of the incident. Our current actions are: - Collecting evidence and reconstructing the full sequence of events, which is not a nuisance because we owe that clarity to ourselves, our users, and the broader market. - Posting an on-chain bounty of 200,000 USDC for anyone who can identify the entity or entities behind the attacking wallet address, or who can provide information that materially helps that identification. Please open a Discord ticket. We don’t have Discord, but that’s the point.

edgeX compensates users and offers a bounty of 200,000 USDC after EDGE plunged 71% due to a wave of sell‑offs from 174 wallet addresses. Details: https://t.co/7K71VCnv1X https://t.co/KnFt3c7e9b

📉 EdgeX launches 200k USDC bounty after $EDGE flash crash 71%. EdgeX is offering refunds and a 200,000 USDC bounty following the $EDGE token flash crash, per the firm's announcement.

Wu reports that edgeX released an EDGE incident report on June 2, stating that the price of EDGE dropped from about $1.12 to about $0.32 within roughly one hour, then rebounded to approximately $0.63–$0.71. edgeX indicated that the event pertained to the EDGE token price, the protocol operated normally throughout, user assets remained safe, and the team’s token allocation was unchanged; preliminary analysis suggests the incident was linked to thin on-chain DEX liquidity, high-leverage perpetual contracts, and CEX liquidity dynamics. edgeX has created an on-chain bounty pool of 200,000 USDC and will provide goodwill compensation to users who suffered actual losses due to EDGE long liquidations or stop-losses between June 2 04:50 and 06:00 (UTC+8), with a maximum of 100,000 USDC per user. https://t.co/Xz75XEeIeR

ALTCOIN NEWS for 2nd June: ➤ $EDGE: EdgeX investigates sharp token crash after 47% plunge. ➤ $INJ: Vulcan upgrade proposal cuts oracle costs by 90%. ➤ $HYPE: Open interest on Hyperliquid RWA perps surpasses $3B. ➤ $TRX: Hamilton Lane launches tokenized private credit fund on Tron. ➤ $XRP: Ripple joins CME’s 24/7 crypto futures launch through Hidden Road.

A decentralized exchange watched its own token crash 70% in four hours and blamed it on a mystery attacker. The supply was held almost entirely by the team and their market makers. EdgeX is a decentralized perpetuals exchange that launched in March with backing from Amber Group. The 16th largest DEX by volume. $137 MILLION in TVL and their native token EDGE is only a few months old. Yesterday EDGE was trading at $1.20. Today it touched $0.37. A 70% wipeout in a single four hour window. $6.28 MILLION in liquidations across derivatives markets. Longs took $4.83 MILLION. Shorts took $1.45 MILLION. Both sides got wiped out. The EdgeX team posted on X that the protocol was not compromised and there had been no hack, exploit, or security breach. They said the crash was caused by deliberate attempts by certain external parties to manipulate the market price. The onchain data tells a different story. EDGE's supply was held by a small group of insiders with a thin float. Onchain researchers asked EdgeX to name the counterparties and market maker agreements responsible if the team really believed an outside actor was behind it. EdgeX has not responded with names. The pattern is identical to what happened with RaveDAO in April. RAVE ran 10,000% in eleven days to a $6 BILLION valuation. The same crash setup followed. The same blame deflection followed. The same setup hit LAB. The same setup is hitting RAIN now. The 2026 playbook on these tokens is now standard. Stack supply for the project. Onboard a market maker quietly. Pump on listings. When it dumps, blame the market. Issue a statement. Promise an investigation. Never name a name. The only thing that ever changes is the ticker.

🚨 Token $EDGE has crashed by more than 47% within hours 👀 The token fell from $1.14 to $0.67, briefly reaching $0.32 before rebounding 🔥 Edge Protocol team (@edgeX_exchange) confirmed that: • The systems have not been breached • There is no exploitation or security vulnerability • No infrastructure breach has been recorded 📊 According to the team, preliminary results suggest possible external market manipulation, and the investigation is ongoing to determine the real reasons behind the collapse 📉