edgeX releases report on the EDGE token crash and offers a compensation plan of up to 100,000 USDC.

CoinFeed reported on June 3 that EdgeX officially released a report on the abnormal price fluctuation of the EDGE token on June 2. The report stated that the price of EDGE plummeted from $1.12 to approximately $0.32 within about one hour. This was attributed to a flash crash caused by concentrated selling from multiple addresses during a period of low liquidity, coupled with a run on highly leveraged long positions and linkage with the centralized exchange (CEX). The team's address remained unchanged during the incident. EdgeX stated that it will strengthen market making and liquidity management, and has set up a 200,000 USDC on-chain bounty to trace the addresses associated with the attack.