Polyhedra released a preliminary incident report: the big dump was triggered by a chain reaction caused by an on-chain coordinated liquidity attack.

PANews reported on June 17 that the ZKJ Token plummeted over 85% on June 15, with preliminary investigations indicating a chain reaction triggered by an on-chain coordinated liquidity attack. Multiple addresses rapidly sold off ZKJ after large withdrawals from PancakeSwap, causing price imbalances in the KOGE/ZKJ pool, while Wintermute transferred approximately 3.39 million ZKJ to centralized exchanges (CEX) in a short period, increasing the selling pressure. Over 94 million dollars of Liquidation occurred within the CEX, further triggering a big dump. Polyhedra stated that the team did not sell ZKJ and only participated in providing liquidity, and they will release a more detailed analysis later.