PANews reported on November 20th that Nillion, a blind computer network, posted on its X platform: "It has been confirmed that a market maker sold NIL tokens without legal authorization from the Nillion Association. Subsequently, during the flash crash and for several hours afterward, the market maker refused to respond to any communication from the team. Nillion is taking immediate action, and the Nillion Association has begun using its reserves to repurchase the sold tokens. Nillion also promises to use all funds recovered from the unauthorized sale of tokens by the market maker to repurchase more NIL tokens. Nillion stated that it is actively pursuing legal action and is cooperating with its exchange partners to ensure that all accounts and wallets related to this incident have been frozen." Earlier today, it was reported that Nillion tokens had fallen by more than 60% at one point.PANews reported on November 20th that Nillion, a blind computer network, posted on its X platform: "It has been confirmed that a market maker sold NIL tokens without legal authorization from the Nillion Association. Subsequently, during the flash crash and for several hours afterward, the market maker refused to respond to any communication from the team. Nillion is taking immediate action, and the Nillion Association has begun using its reserves to repurchase the sold tokens. Nillion also promises to use all funds recovered from the unauthorized sale of tokens by the market maker to repurchase more NIL tokens. Nillion stated that it is actively pursuing legal action and is cooperating with its exchange partners to ensure that all accounts and wallets related to this incident have been frozen." Earlier today, it was reported that Nillion tokens had fallen by more than 60% at one point.
Nillion: A market maker sold NIL tokens without authorization. We are taking countermeasures and pursuing legal action.
PANews reported on November 20th that Nillion, a blind computer network, posted on its X platform: "It has been confirmed that a market maker sold NIL tokens without legal authorization from the Nillion Association. Subsequently, during the flash crash and for several hours afterward, the market maker refused to respond to any communication from the team. Nillion is taking immediate action, and the Nillion Association has begun using its reserves to repurchase the sold tokens. Nillion also promises to use all funds recovered from the unauthorized sale of tokens by the market maker to repurchase more NIL tokens. Nillion stated that it is actively pursuing legal action and is cooperating with its exchange partners to ensure that all accounts and wallets related to this incident have been frozen."
Earlier today, it was reported that Nillion tokens had fallen by more than 60% at one point.
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
You May Also Like
Trump duwt Selig naar voren, mogelijk vandaag al stemming over nieuwe Amerikaanse cryptobaas
De Amerikaanse Senaat kan vandaag al stemmen over de benoeming van Michael Selig als nieuwe voorzitter van de Commodity Futures Trading Commission. De mogelijke
Share
Coinstats2025/12/12 05:16
Terraform Labs Co-Founder Do Kwon Sentenced To 15 Years In Prison
The legal saga surrounding Do Kwon, co-founder of Terraform Labs, has culminated in a significant ruling, with the crypto magnate sentenced to 15 years in prison
Share
Bitcoinist2025/12/12 06:38
Bitcoin ETFs Record Strongest Inflows Since July, Push Holdings to New High
The post Bitcoin ETFs Record Strongest Inflows Since July, Push Holdings to New High appeared on BitcoinEthereumNews.com. In brief Bitcoin ETPs saw a net inflow of 20,685 BTC last week, driven mostly by U.S. ETFs. The recent uptick in investor risk appetite is driven by rate cut expectations and new crypto IPOs. Despite institutional demand outpacing new Bitcoin supply, realized and implied volatility remain historically low. Bitcoin exchange-traded products globally logged net inflows of 20,685 BTC last week, the strongest weekly intake since July 22, according to digital assets firm K33 Research. The renewed momentum lifted U.S. spot bitcoin ETFs’ combined holdings to 1.32 million BTC, surpassing the previous peak set on July 30. U.S. Bitcoin ETF products contributed nearly 97% of last week’s 20,685 BTC ETP inflows, highlighting the surge in demand ahead of the FOMC meeting. Bitcoin ETF inflows “tend to be one of the key determinants of Bitcoin’s performance,” André Dragosch, head of research for Europe at Bitwise Investments, told Decrypt, adding that the “percentage share of Bitcoin’s performance explained by changes in ETP flows” has reached a new all-time high. Compared with Ethereum ETF flows, “there appears to be a ‘re-rotation’ from Ethereum back to Bitcoin in terms of investor flows,” Dragosch said, citing their data. “Over the past week, flows into Bitcoin ETFs have surpassed new supply growth by a factor of 8.93 times, a key tailwind for Bitcoin’s recent performance.” Analysts at K33 agree, writing that flows have been a key driver of bitcoin’s strength since ETF approvals earlier last year, and the latest surge signals an acceleration in demand that could underpin further price support. In the last 30 days, investors accumulated roughly 22,853 BTC via various products, outpacing the new supply of 14,056 BTC. This rising risk appetite for Bitcoin has supported the recent recovery, Bitwise noted in its Monday report. Fidelity’s FBTC product accounted for a substantial…
Share
BitcoinEthereumNews2025/09/18 10:19