TechFlow news, November 10 — In response to recent extreme price volatility of River Pts, the River team has issued a statement addressing the incident.
River stated that this price fluctuation was not ordinary market activity, but rather an organized and coordinated attack targeting the River ecosystem and its River Pts conversion mechanism. The attackers manipulated the RIVER token market through substantial short positions and concentrated Pts conversions.
To prevent systemic collapse, the team temporarily suspended the Pts conversion function and conducted market repurchase operations. After these suspension measures were implemented, the attackers quickly closed their short positions.
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