IN Drops 43.6% in 24 Hours, INFINIT Team Says Platform and Token Not Attacked

CoinFeed July 1 news, INFINIT responded to recent abnormal price fluctuations of IN token, stating that the platform and token have not been hacked or attacked, and all funds are safe. The project team traced that a wallet transferred tokens from Bitget and Gate to a cross-chain address, bridged from Ethereum to BNB Chain via LayerZero, approximately 9 million tokens were burned on the Ethereum side, and 3 minutes later an equal amount of tokens were minted on the BNB Chain side, then the wallet conducted multiple sell transactions on PancakeSwap. INFINIT said this is a market integrity issue rather than a platform security issue, and the team has cooperated with relevant exchanges to pursue accountability. CoinGecko data shows IN token price dropped 43.6% in 24 hours, currently quoted at $0.06669.