Author: Asher, Odaily Planet Daily Despite the recent market recovery, the crypto world remains shrouded in a persistent gloom since the "1011 crash." Particularly noteworthy is the apparent unanimous triggering of a series of crashes on newly listed altcoins, with various price swings: halving in a single day, drops exceeding 80%, initial surges followed by a continuous decline, and concentrated sell-offs of airdrops. It's worth noting that these anomalies are largely concentrated on new projects launched on Binance Alpha. In just a few weeks, a series of bizarre price drops have occurred. On-chain fund flows, market maker operations, and the team's responses and silences piece together fragmented truths about this turmoil. Below, Odaily Planet Daily will summarize some of the most discussed and representative cases of these "creative price drops" recently. Sahara AI: A short-term plunge of over 50% stemmed from massive liquidation of perpetual contracts + concentrated amplification of short selling. On the evening of November 29, Sahara AI's token SAHARA fell by more than 50% in a short period of time, and the price has not recovered significantly since then, currently trading at $0.03869. SAHARA K-line chart The following day, the Sahara AI team quickly released a statement in an attempt to reassure the market, with three main points: There is no team or investor selling off: everyone is still under lock-up, and there is still a full year until the first unlock (June 2026). The smart contract is fine: it has not been hacked, tampered with, or had any inexplicable token transfers. The business is undergoing adjustments but nothing has gone wrong: internally, some resource integration is being done, with a focus on accelerating growth in areas where it can grow. These all sound harmless, but the focus of the community discussion is completely elsewhere. KOL Crypto Fearless posted on the X platform that the abnormal price drop of SAHARA was caused by "a series of liquidations of a certain active market maker": a large market maker who manages multiple projects was targeted by an exchange because of a certain project, which led to all related positions being subject to risk control, and SAHARA was just one of the "collateral damage". However, Sahara AI quickly denied this claim, emphasizing that their only market makers are Amber Group and Herring Global, both of which are operating normally and have not been investigated or liquidated. The team's version is that the crash was mainly due to large-scale liquidation of perpetual contracts combined with a concentrated amplification of short selling. In other words, "It's not our problem; it's a structural stampede within the market itself." Meanwhile, the team is still in direct communication with the relevant exchanges and will further disclose more verified information once obtained. aPriori: 60% of the airdrop was snapped up; the token price has fallen by nearly 80% since its launch. aPriori is a highly funded project within the Monad ecosystem. Its token, APR, was "early" traded on the BNB Chain via TGE before the Monad mainnet launch. On October 23rd, APR was listed on Binance Alpha and Binance Futures, initially surging above $0.70, but subsequently declining to its current price of $0.13. This initial weakness had already raised concerns within the community, but the real catalyst came a few weeks later. APR K-line chart The most shocking news came on November 11: 60% of the project's airdrop was claimed by the same entity using 14,000 addresses. On-chain data disclosed by Bubblemaps on November 11 showed that 60% of the aPriori project's airdrop tokens were claimed by the same entity through 14,000 interconnected wallets. These wallets each deposited 0.001 BNB through Binance within a short period and then transferred the APR tokens to the same batch of new wallets. APR "insider trading" address bubble chart However, what angered the community even more than the data itself was the project team's complete lack of response. On November 14, Bubblemaps stated that they had already contacted the aPriori team seeking an explanation for the situation where "60% of the airdrops were claimed by the same entity through 14,000 addresses," but had yet to receive a response. In addition, blockchain detective ZachXBT also posted on the X platform that he had sent a private message to the co-founder of the aPriori project to explain the "insider trading" issue, but had not received a reply as of November 18. Meanwhile, the official X account stopped updating, Discord administrators almost disappeared, and community sentiment gradually shifted from disappointment to anger. "Has the project team already absconded?" "Has the team moved on to the next project?" "A highly funded project doing this?" On November 21, the team finally spoke out, but the content did not truly address the core questions. It only stated that "no evidence has been found that the team or foundation received the airdrop," and attempted to shift attention to the Monad mainnet airdrop, claiming that a "large amount of unlocked APR airdrop" would be given to the Monad community. This statement did not quell the doubts, but was instead interpreted by many community members as "avoiding the important issues." Worse still, on the day Monad launched its mainnet, aPriori's token airdrop went almost unnoticed, and subsequent official channels fell silent again. From a high-profile, well-funded project to a rapid loss of community trust, this process took less than a month. Irys: An entity claimed 20% of the tokens in the airdrop through a cluster of 900 wallets and has already sold $4 million worth. Irys is an L1 public chain that focuses on "data intelligence" and has raised nearly $20 million in funding. However, its airdrops and on-chain activities before the mainnet launch have raised questions in the market about "insider trading" and dumping of shares to cash out. The day before launch: 900 addresses were flooded with deposits. On November 28th, Bubblemaps, an on-chain data analytics platform, disclosed that the day before the IRYS mainnet launch, a total of 900 addresses received ETH transferred from the Bitget exchange within several time windows. These addresses shared highly consistent characteristics: No prior on-chain history (brand new wallet); The amounts of ETH received were similar; Everyone received an IRYS airdrop on the day of launch. These addresses ultimately claimed approximately 20% of the IRYS airdrop quota. Further analysis: Typical witch clusters Bubblemaps divided these 900 addresses into 20 batches of top-ups, with approximately 50 addresses in each batch. The survey showed that: Time: From November 21st to 24th, Bitget launched a total of 20 rounds of top-ups; The pattern is highly consistent: each batch of small ETH transfers follows almost identical address generation, activation, and operation paths; Characteristics: Addresses are active simultaneously within a short period of time, and their behavioral paths are similar. This behavioral pattern is consistent with typical "Sybil" characteristics, indicating that it is a planned and organized operation. Transaction path: From airdrop to exchange Further investigation of 500 addresses revealed that they followed an identical process: Claim your IRYS airdrop; Transfer all tokens to a brand new address ("address washing" step); The new address then transferred IRYS to the Bitget exchange; It is highly likely that the shares will be sold directly on the exchange. To date, approximately $4 million worth of IRYS tokens have flowed into the Bitget exchange through this route. IRYS "Fake Stock" Address Bubble Chart Irys' official response: The airdrop of the witch horde does not involve the team or investors. Regarding the recent on-chain analysis showing the IRYS Sybil airdrop cluster incident, the project team conducted an internal investigation and verified the situation with partners and exchanges through multiple channels. The official response indicates: Unrelated to the team or investors: Investigations show that the Witch Cluster wallets used to receive the airdrops are not affiliated with the team wallets, foundation wallets, or investor wallets. The IRYS tokens held by the team, foundation, and founders have not been sold and remain subject to lock-up and unlocking rules. Reflections on the airdrop design and anti-Sybil measures: The project employed various anti-Sybil mechanisms before launch, successfully filtering out some obvious arbitrage opportunities, but still failing to completely prevent Sybil clusters. The team stated that these vulnerabilities were inherent to the airdrop design itself, rather than due to errors in execution by partners, and promised future improvements. Future plans: The team will regularly update project progress, including network growth, ecosystem development, and major company news. At the product and ecosystem level, we will continue to optimize protocols, expand integration scenarios, promote data applications, and support long-term users and developers. The official statement emphasizes that this incident will not affect the operation of the IRYS mainnet, nor will it change the project's long-term development goals. The team will earn the community's trust through continuous development and transparent communication, rather than just verbal explanations. Tradoor: The top ten holding addresses account for 98% of the total supply, causing a short-term plunge of nearly 80%. On December 1, the token TRADOOR of Binance Alpha project Tradoor surged to a record high of $6.64, but then plummeted by nearly 80% in the following 24 hours, falling to $1.47; it is currently priced at $1.39. TRADOOR K-line chart On-chain data shows that Tradoor has extremely low decentralization: only 10 addresses control 98% of the total supply, with one address holding as many as 75% of the tokens. The remaining circulating supply is negligible, with the total DEX liquidity pool amounting to less than $1 million, meaning even a small large order can cause the price to crash. Furthermore, the delayed airdrop and issues with the staking mechanism exacerbated the crisis of user trust: the originally promised airdrop was delayed from "soon" to February 2026, and coupled with loopholes in the staking mechanism, retail investors had virtually nowhere to hide when the market crashed. It is worth noting that the TRADOOR crash occurred during the hours of 4 to 5 a.m. in China, when most retail investors were asleep, and by the time they woke up, their losses were already irreversible. Knowing when to stop is the key. As crypto trader Ansem previously stated in an article on the X platform, the main value accumulation phase of the crypto industry is "basically over," and the vast majority of tokens ("95% junk") will struggle to gain sustained value in the future. The real value-capturing assets in the future will be stablecoins and the blockchain infrastructure built on the proprietary chains of traditional fintech companies like Stripe, Coinbase, and Robinhood, rather than most token projects currently on the market. Therefore, even with the current significant recovery in the crypto market, highly sought-after altcoins may experience a brief rebound, potentially allowing investors to "make a quick profit." However, this does not mean complacency or blindly pursuing exorbitant profits of several times or even ten times the initial investment—altcoins experiencing dramatic price drops will continue to appear. In the current environment, "taking profits when they are available" remains the safest strategy.Author: Asher, Odaily Planet Daily Despite the recent market recovery, the crypto world remains shrouded in a persistent gloom since the "1011 crash." Particularly noteworthy is the apparent unanimous triggering of a series of crashes on newly listed altcoins, with various price swings: halving in a single day, drops exceeding 80%, initial surges followed by a continuous decline, and concentrated sell-offs of airdrops. It's worth noting that these anomalies are largely concentrated on new projects launched on Binance Alpha. In just a few weeks, a series of bizarre price drops have occurred. On-chain fund flows, market maker operations, and the team's responses and silences piece together fragmented truths about this turmoil. Below, Odaily Planet Daily will summarize some of the most discussed and representative cases of these "creative price drops" recently. Sahara AI: A short-term plunge of over 50% stemmed from massive liquidation of perpetual contracts + concentrated amplification of short selling. On the evening of November 29, Sahara AI's token SAHARA fell by more than 50% in a short period of time, and the price has not recovered significantly since then, currently trading at $0.03869. SAHARA K-line chart The following day, the Sahara AI team quickly released a statement in an attempt to reassure the market, with three main points: There is no team or investor selling off: everyone is still under lock-up, and there is still a full year until the first unlock (June 2026). The smart contract is fine: it has not been hacked, tampered with, or had any inexplicable token transfers. The business is undergoing adjustments but nothing has gone wrong: internally, some resource integration is being done, with a focus on accelerating growth in areas where it can grow. These all sound harmless, but the focus of the community discussion is completely elsewhere. KOL Crypto Fearless posted on the X platform that the abnormal price drop of SAHARA was caused by "a series of liquidations of a certain active market maker": a large market maker who manages multiple projects was targeted by an exchange because of a certain project, which led to all related positions being subject to risk control, and SAHARA was just one of the "collateral damage". However, Sahara AI quickly denied this claim, emphasizing that their only market makers are Amber Group and Herring Global, both of which are operating normally and have not been investigated or liquidated. The team's version is that the crash was mainly due to large-scale liquidation of perpetual contracts combined with a concentrated amplification of short selling. In other words, "It's not our problem; it's a structural stampede within the market itself." Meanwhile, the team is still in direct communication with the relevant exchanges and will further disclose more verified information once obtained. aPriori: 60% of the airdrop was snapped up; the token price has fallen by nearly 80% since its launch. aPriori is a highly funded project within the Monad ecosystem. Its token, APR, was "early" traded on the BNB Chain via TGE before the Monad mainnet launch. On October 23rd, APR was listed on Binance Alpha and Binance Futures, initially surging above $0.70, but subsequently declining to its current price of $0.13. This initial weakness had already raised concerns within the community, but the real catalyst came a few weeks later. APR K-line chart The most shocking news came on November 11: 60% of the project's airdrop was claimed by the same entity using 14,000 addresses. On-chain data disclosed by Bubblemaps on November 11 showed that 60% of the aPriori project's airdrop tokens were claimed by the same entity through 14,000 interconnected wallets. These wallets each deposited 0.001 BNB through Binance within a short period and then transferred the APR tokens to the same batch of new wallets. APR "insider trading" address bubble chart However, what angered the community even more than the data itself was the project team's complete lack of response. On November 14, Bubblemaps stated that they had already contacted the aPriori team seeking an explanation for the situation where "60% of the airdrops were claimed by the same entity through 14,000 addresses," but had yet to receive a response. In addition, blockchain detective ZachXBT also posted on the X platform that he had sent a private message to the co-founder of the aPriori project to explain the "insider trading" issue, but had not received a reply as of November 18. Meanwhile, the official X account stopped updating, Discord administrators almost disappeared, and community sentiment gradually shifted from disappointment to anger. "Has the project team already absconded?" "Has the team moved on to the next project?" "A highly funded project doing this?" On November 21, the team finally spoke out, but the content did not truly address the core questions. It only stated that "no evidence has been found that the team or foundation received the airdrop," and attempted to shift attention to the Monad mainnet airdrop, claiming that a "large amount of unlocked APR airdrop" would be given to the Monad community. This statement did not quell the doubts, but was instead interpreted by many community members as "avoiding the important issues." Worse still, on the day Monad launched its mainnet, aPriori's token airdrop went almost unnoticed, and subsequent official channels fell silent again. From a high-profile, well-funded project to a rapid loss of community trust, this process took less than a month. Irys: An entity claimed 20% of the tokens in the airdrop through a cluster of 900 wallets and has already sold $4 million worth. Irys is an L1 public chain that focuses on "data intelligence" and has raised nearly $20 million in funding. However, its airdrops and on-chain activities before the mainnet launch have raised questions in the market about "insider trading" and dumping of shares to cash out. The day before launch: 900 addresses were flooded with deposits. On November 28th, Bubblemaps, an on-chain data analytics platform, disclosed that the day before the IRYS mainnet launch, a total of 900 addresses received ETH transferred from the Bitget exchange within several time windows. These addresses shared highly consistent characteristics: No prior on-chain history (brand new wallet); The amounts of ETH received were similar; Everyone received an IRYS airdrop on the day of launch. These addresses ultimately claimed approximately 20% of the IRYS airdrop quota. Further analysis: Typical witch clusters Bubblemaps divided these 900 addresses into 20 batches of top-ups, with approximately 50 addresses in each batch. The survey showed that: Time: From November 21st to 24th, Bitget launched a total of 20 rounds of top-ups; The pattern is highly consistent: each batch of small ETH transfers follows almost identical address generation, activation, and operation paths; Characteristics: Addresses are active simultaneously within a short period of time, and their behavioral paths are similar. This behavioral pattern is consistent with typical "Sybil" characteristics, indicating that it is a planned and organized operation. Transaction path: From airdrop to exchange Further investigation of 500 addresses revealed that they followed an identical process: Claim your IRYS airdrop; Transfer all tokens to a brand new address ("address washing" step); The new address then transferred IRYS to the Bitget exchange; It is highly likely that the shares will be sold directly on the exchange. To date, approximately $4 million worth of IRYS tokens have flowed into the Bitget exchange through this route. IRYS "Fake Stock" Address Bubble Chart Irys' official response: The airdrop of the witch horde does not involve the team or investors. Regarding the recent on-chain analysis showing the IRYS Sybil airdrop cluster incident, the project team conducted an internal investigation and verified the situation with partners and exchanges through multiple channels. The official response indicates: Unrelated to the team or investors: Investigations show that the Witch Cluster wallets used to receive the airdrops are not affiliated with the team wallets, foundation wallets, or investor wallets. The IRYS tokens held by the team, foundation, and founders have not been sold and remain subject to lock-up and unlocking rules. Reflections on the airdrop design and anti-Sybil measures: The project employed various anti-Sybil mechanisms before launch, successfully filtering out some obvious arbitrage opportunities, but still failing to completely prevent Sybil clusters. The team stated that these vulnerabilities were inherent to the airdrop design itself, rather than due to errors in execution by partners, and promised future improvements. Future plans: The team will regularly update project progress, including network growth, ecosystem development, and major company news. At the product and ecosystem level, we will continue to optimize protocols, expand integration scenarios, promote data applications, and support long-term users and developers. The official statement emphasizes that this incident will not affect the operation of the IRYS mainnet, nor will it change the project's long-term development goals. The team will earn the community's trust through continuous development and transparent communication, rather than just verbal explanations. Tradoor: The top ten holding addresses account for 98% of the total supply, causing a short-term plunge of nearly 80%. On December 1, the token TRADOOR of Binance Alpha project Tradoor surged to a record high of $6.64, but then plummeted by nearly 80% in the following 24 hours, falling to $1.47; it is currently priced at $1.39. TRADOOR K-line chart On-chain data shows that Tradoor has extremely low decentralization: only 10 addresses control 98% of the total supply, with one address holding as many as 75% of the tokens. The remaining circulating supply is negligible, with the total DEX liquidity pool amounting to less than $1 million, meaning even a small large order can cause the price to crash. Furthermore, the delayed airdrop and issues with the staking mechanism exacerbated the crisis of user trust: the originally promised airdrop was delayed from "soon" to February 2026, and coupled with loopholes in the staking mechanism, retail investors had virtually nowhere to hide when the market crashed. It is worth noting that the TRADOOR crash occurred during the hours of 4 to 5 a.m. in China, when most retail investors were asleep, and by the time they woke up, their losses were already irreversible. Knowing when to stop is the key. As crypto trader Ansem previously stated in an article on the X platform, the main value accumulation phase of the crypto industry is "basically over," and the vast majority of tokens ("95% junk") will struggle to gain sustained value in the future. The real value-capturing assets in the future will be stablecoins and the blockchain infrastructure built on the proprietary chains of traditional fintech companies like Stripe, Coinbase, and Robinhood, rather than most token projects currently on the market. Therefore, even with the current significant recovery in the crypto market, highly sought-after altcoins may experience a brief rebound, potentially allowing investors to "make a quick profit." However, this does not mean complacency or blindly pursuing exorbitant profits of several times or even ten times the initial investment—altcoins experiencing dramatic price drops will continue to appear. In the current environment, "taking profits when they are available" remains the safest strategy.

From Sahara to Tradoor, a look back at the recent "dive" of altcoins.

2025/12/04 20:00

Author: Asher, Odaily Planet Daily

Despite the recent market recovery, the crypto world remains shrouded in a persistent gloom since the "1011 crash." Particularly noteworthy is the apparent unanimous triggering of a series of crashes on newly listed altcoins, with various price swings: halving in a single day, drops exceeding 80%, initial surges followed by a continuous decline, and concentrated sell-offs of airdrops. It's worth noting that these anomalies are largely concentrated on new projects launched on Binance Alpha.

In just a few weeks, a series of bizarre price drops have occurred. On-chain fund flows, market maker operations, and the team's responses and silences piece together fragmented truths about this turmoil. Below, Odaily Planet Daily will summarize some of the most discussed and representative cases of these "creative price drops" recently.

Sahara AI: A short-term plunge of over 50% stemmed from massive liquidation of perpetual contracts + concentrated amplification of short selling.

On the evening of November 29, Sahara AI's token SAHARA fell by more than 50% in a short period of time, and the price has not recovered significantly since then, currently trading at $0.03869.

SAHARA K-line chart

The following day, the Sahara AI team quickly released a statement in an attempt to reassure the market, with three main points:

  • There is no team or investor selling off: everyone is still under lock-up, and there is still a full year until the first unlock (June 2026).
  • The smart contract is fine: it has not been hacked, tampered with, or had any inexplicable token transfers.
  • The business is undergoing adjustments but nothing has gone wrong: internally, some resource integration is being done, with a focus on accelerating growth in areas where it can grow.

These all sound harmless, but the focus of the community discussion is completely elsewhere. KOL Crypto Fearless posted on the X platform that the abnormal price drop of SAHARA was caused by "a series of liquidations of a certain active market maker": a large market maker who manages multiple projects was targeted by an exchange because of a certain project, which led to all related positions being subject to risk control, and SAHARA was just one of the "collateral damage".

However, Sahara AI quickly denied this claim, emphasizing that their only market makers are Amber Group and Herring Global, both of which are operating normally and have not been investigated or liquidated. The team's version is that the crash was mainly due to large-scale liquidation of perpetual contracts combined with a concentrated amplification of short selling. In other words, "It's not our problem; it's a structural stampede within the market itself." Meanwhile, the team is still in direct communication with the relevant exchanges and will further disclose more verified information once obtained.

aPriori: 60% of the airdrop was snapped up; the token price has fallen by nearly 80% since its launch.

aPriori is a highly funded project within the Monad ecosystem. Its token, APR, was "early" traded on the BNB Chain via TGE before the Monad mainnet launch. On October 23rd, APR was listed on Binance Alpha and Binance Futures, initially surging above $0.70, but subsequently declining to its current price of $0.13. This initial weakness had already raised concerns within the community, but the real catalyst came a few weeks later.

APR K-line chart

The most shocking news came on November 11: 60% of the project's airdrop was claimed by the same entity using 14,000 addresses. On-chain data disclosed by Bubblemaps on November 11 showed that 60% of the aPriori project's airdrop tokens were claimed by the same entity through 14,000 interconnected wallets. These wallets each deposited 0.001 BNB through Binance within a short period and then transferred the APR tokens to the same batch of new wallets.

APR "insider trading" address bubble chart

However, what angered the community even more than the data itself was the project team's complete lack of response. On November 14, Bubblemaps stated that they had already contacted the aPriori team seeking an explanation for the situation where "60% of the airdrops were claimed by the same entity through 14,000 addresses," but had yet to receive a response.

In addition, blockchain detective ZachXBT also posted on the X platform that he had sent a private message to the co-founder of the aPriori project to explain the "insider trading" issue, but had not received a reply as of November 18.

Meanwhile, the official X account stopped updating, Discord administrators almost disappeared, and community sentiment gradually shifted from disappointment to anger.

  • "Has the project team already absconded?"
  • "Has the team moved on to the next project?"
  • "A highly funded project doing this?"

On November 21, the team finally spoke out, but the content did not truly address the core questions. It only stated that "no evidence has been found that the team or foundation received the airdrop," and attempted to shift attention to the Monad mainnet airdrop, claiming that a "large amount of unlocked APR airdrop" would be given to the Monad community. This statement did not quell the doubts, but was instead interpreted by many community members as "avoiding the important issues."

Worse still, on the day Monad launched its mainnet, aPriori's token airdrop went almost unnoticed, and subsequent official channels fell silent again. From a high-profile, well-funded project to a rapid loss of community trust, this process took less than a month.

Irys: An entity claimed 20% of the tokens in the airdrop through a cluster of 900 wallets and has already sold $4 million worth.

Irys is an L1 public chain that focuses on "data intelligence" and has raised nearly $20 million in funding. However, its airdrops and on-chain activities before the mainnet launch have raised questions in the market about "insider trading" and dumping of shares to cash out.

The day before launch: 900 addresses were flooded with deposits.

On November 28th, Bubblemaps, an on-chain data analytics platform, disclosed that the day before the IRYS mainnet launch, a total of 900 addresses received ETH transferred from the Bitget exchange within several time windows. These addresses shared highly consistent characteristics:

  • No prior on-chain history (brand new wallet);
  • The amounts of ETH received were similar;
  • Everyone received an IRYS airdrop on the day of launch.

These addresses ultimately claimed approximately 20% of the IRYS airdrop quota.

Further analysis: Typical witch clusters

Bubblemaps divided these 900 addresses into 20 batches of top-ups, with approximately 50 addresses in each batch. The survey showed that:

  • Time: From November 21st to 24th, Bitget launched a total of 20 rounds of top-ups;
  • The pattern is highly consistent: each batch of small ETH transfers follows almost identical address generation, activation, and operation paths;
  • Characteristics: Addresses are active simultaneously within a short period of time, and their behavioral paths are similar.

This behavioral pattern is consistent with typical "Sybil" characteristics, indicating that it is a planned and organized operation.

Transaction path: From airdrop to exchange

Further investigation of 500 addresses revealed that they followed an identical process:

  1. Claim your IRYS airdrop;
  2. Transfer all tokens to a brand new address ("address washing" step);
  3. The new address then transferred IRYS to the Bitget exchange;
  4. It is highly likely that the shares will be sold directly on the exchange.

To date, approximately $4 million worth of IRYS tokens have flowed into the Bitget exchange through this route.

IRYS "Fake Stock" Address Bubble Chart

Irys' official response: The airdrop of the witch horde does not involve the team or investors.

Regarding the recent on-chain analysis showing the IRYS Sybil airdrop cluster incident, the project team conducted an internal investigation and verified the situation with partners and exchanges through multiple channels. The official response indicates:

  • Unrelated to the team or investors: Investigations show that the Witch Cluster wallets used to receive the airdrops are not affiliated with the team wallets, foundation wallets, or investor wallets. The IRYS tokens held by the team, foundation, and founders have not been sold and remain subject to lock-up and unlocking rules.
  • Reflections on the airdrop design and anti-Sybil measures: The project employed various anti-Sybil mechanisms before launch, successfully filtering out some obvious arbitrage opportunities, but still failing to completely prevent Sybil clusters. The team stated that these vulnerabilities were inherent to the airdrop design itself, rather than due to errors in execution by partners, and promised future improvements.
  • Future plans: The team will regularly update project progress, including network growth, ecosystem development, and major company news. At the product and ecosystem level, we will continue to optimize protocols, expand integration scenarios, promote data applications, and support long-term users and developers.

The official statement emphasizes that this incident will not affect the operation of the IRYS mainnet, nor will it change the project's long-term development goals. The team will earn the community's trust through continuous development and transparent communication, rather than just verbal explanations.

Tradoor: The top ten holding addresses account for 98% of the total supply, causing a short-term plunge of nearly 80%.

On December 1, the token TRADOOR of Binance Alpha project Tradoor surged to a record high of $6.64, but then plummeted by nearly 80% in the following 24 hours, falling to $1.47; it is currently priced at $1.39.

TRADOOR K-line chart

On-chain data shows that Tradoor has extremely low decentralization: only 10 addresses control 98% of the total supply, with one address holding as many as 75% of the tokens. The remaining circulating supply is negligible, with the total DEX liquidity pool amounting to less than $1 million, meaning even a small large order can cause the price to crash.

Furthermore, the delayed airdrop and issues with the staking mechanism exacerbated the crisis of user trust: the originally promised airdrop was delayed from "soon" to February 2026, and coupled with loopholes in the staking mechanism, retail investors had virtually nowhere to hide when the market crashed. It is worth noting that the TRADOOR crash occurred during the hours of 4 to 5 a.m. in China, when most retail investors were asleep, and by the time they woke up, their losses were already irreversible.

Knowing when to stop is the key.

As crypto trader Ansem previously stated in an article on the X platform, the main value accumulation phase of the crypto industry is "basically over," and the vast majority of tokens ("95% junk") will struggle to gain sustained value in the future. The real value-capturing assets in the future will be stablecoins and the blockchain infrastructure built on the proprietary chains of traditional fintech companies like Stripe, Coinbase, and Robinhood, rather than most token projects currently on the market.

Therefore, even with the current significant recovery in the crypto market, highly sought-after altcoins may experience a brief rebound, potentially allowing investors to "make a quick profit." However, this does not mean complacency or blindly pursuing exorbitant profits of several times or even ten times the initial investment—altcoins experiencing dramatic price drops will continue to appear. In the current environment, "taking profits when they are available" remains the safest strategy.

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

SSP Stock Surges 11% On FY25 Earnings And European Rail Review

SSP Stock Surges 11% On FY25 Earnings And European Rail Review

The post SSP Stock Surges 11% On FY25 Earnings And European Rail Review appeared on BitcoinEthereumNews.com. SSP Group stock rebounded strongly today. (Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images Shares in travel food retailer SSP Group rose sharply today after the company posted solid FY25 results, highlighting good growth in two of its four regional divisions, and a decision to review its under‑performing Continental European rail business. The food and beverage (F&B) company’s stock closed 11.3% up in London on the back of a revenue rise of 7.8% (at constant currency) to £3.6 billion ($4.8 billion) in the 12 months to September. Operating profit jumped by 12.7% to £223 million ($298 million). Under statutory IFRS reporting, however, operating profit fell 58% to £86 million, which SSP said in a statement “reflected £183 million of non‑underlying expenses and impairment charges.” The decision to review its rail business in Continental Europe—the biggest of the F&B giant’s four divisions by revenue at £1,205 million ($1,607 million)—was welcomed by the market, given its weak performance of 2% like-for-like (LFL) growth. A carrot was also dangled— a reward to shareholders arising from the July IPO of SSP’s Indian joint venture Travel Food Services (TFS) with K Hospitality, India’s largest privately held F&B company. SSP Group CEO Patrick Coveney said in a statement: “We acknowledge there is more to do to strengthen our operational performance, most notably in Continental Europe, where we have now reset our team, model, and balance sheet, and have a range of initiatives underway. In addition, we are launching a wide-ranging review of our rail business in Continental Europe. We are also considering options to realise value for our shareholders in line with the delivery of the TFS free float requirement.” SSP currently retains a 50.01% stake in TFS and said: “We believe that India’s market potential, combined with TFS’s attractive…
Share
BitcoinEthereumNews2025/12/05 13:37
Hong Kong Backs Commercial Bank Tokenized Deposits in 2025

Hong Kong Backs Commercial Bank Tokenized Deposits in 2025

The post Hong Kong Backs Commercial Bank Tokenized Deposits in 2025 appeared on BitcoinEthereumNews.com. HKMA to support tokenized deposits and regular issuance of digital bonds. SFC drafting licensing framework for trading, custody, and stablecoin issuers. New rules will cover stablecoin issuers, digital asset trading, and custody services. Hong Kong is stepping up its digital finance ambitions with a policy blueprint that places tokenization at the core of banking innovation.  In the 2025 Policy Address, Chief Executive John Lee outlined measures that will see the Hong Kong Monetary Authority (HKMA) encourage commercial banks to roll out tokenized deposits and expand the city’s live tokenized-asset transactions. Hong Kong’s Project Ensemble to Drive Tokenized Deposits Lee confirmed that the HKMA will “continue to take forward Project Ensemble, including encouraging commercial banks to introduce tokenised deposits, and promoting live transactions of tokenised assets, such as the settlement of tokenised money market funds with tokenised deposits.” The initiative aims to embed tokenized deposits, bank liabilities represented as blockchain-based tokens, into mainstream financial operations. These deposits could facilitate the settlement of money-market funds and other financial instruments more quickly and efficiently. To ensure a controlled rollout, the HKMA will utilize its regulatory sandbox to enable banks to test tokenized products while enhancing risk management. Tokenized Bonds to Become a Regular Feature Beyond deposits, the government intends to make tokenized bond issuance a permanent element of Hong Kong’s financial markets. After successful pilots, including green bonds, the HKMA will help regularize the issuance process to build deep and liquid markets for digital bonds accessible to both local and international investors. Related: Beijing Blocks State-Owned Firms From Stablecoin Businesses in Hong Kong Hong Kong’s Global Financial Role The policy address also set out a comprehensive regulatory framework for digital assets. Hong Kong is implementing a regime for stablecoin issuers and drafting licensing rules for digital asset trading and custody services. The Securities…
Share
BitcoinEthereumNews2025/09/18 07:10
Headwind Helps Best Wallet Token

Headwind Helps Best Wallet Token

The post Headwind Helps Best Wallet Token appeared on BitcoinEthereumNews.com. Google has announced the launch of a new open-source protocol called Agent Payments Protocol (AP2) in partnership with Coinbase, the Ethereum Foundation, and 60 other organizations. This allows AI agents to make payments on behalf of users using various methods such as real-time bank transfers, credit and debit cards, and, most importantly, stablecoins. Let’s explore in detail what this could mean for the broader cryptocurrency markets, and also highlight a presale crypto (Best Wallet Token) that could explode as a result of this development. Google’s Push for Stablecoins Agent Payments Protocol (AP2) uses digital contracts known as ‘Intent Mandates’ and ‘Verifiable Credentials’ to ensure that AI agents undertake only those payments authorized by the user. Mandates, by the way, are cryptographically signed, tamper-proof digital contracts that act as verifiable proof of a user’s instruction. For example, let’s say you instruct an AI agent to never spend more than $200 in a single transaction. This instruction is written into an Intent Mandate, which serves as a digital contract. Now, whenever the AI agent tries to make a payment, it must present this mandate as proof of authorization, which will then be verified via the AP2 protocol. Alongside this, Google has also launched the A2A x402 extension to accelerate support for the Web3 ecosystem. This production-ready solution enables agent-based crypto payments and will help reshape the growth of cryptocurrency integration within the AP2 protocol. Google’s inclusion of stablecoins in AP2 is a massive vote of confidence in dollar-pegged cryptocurrencies and a huge step toward making them a mainstream payment option. This widens stablecoin usage beyond trading and speculation, positioning them at the center of the consumption economy. The recent enactment of the GENIUS Act in the U.S. gives stablecoins more structure and legal support. Imagine paying for things like data crawls, per-task…
Share
BitcoinEthereumNews2025/09/18 01:27