TechFlow, on November 21, according to official disclosure by Nillion, the project experienced an incident where a market maker sold NIL tokens without legal authorization from the Nillion Association. During and for several hours after the flash crash sale, the market maker refused to respond to any communication attempts from the team.
The Nillion Association has started using treasury funds to repurchase the dumped tokens and pledged to use all recovered proceeds from unauthorized sales by the market maker to buy additional NIL tokens. The association stated it is pursuing all available legal remedies and has been working overnight with exchange partners to ensure all accounts and wallets related to this incident have been frozen.
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