Chromia attributes CHR's 24% drop to wallet theft, not a hack

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Chromia stated that the 24% drop in CHR’s crypto price on July 23 was due to a wallet theft, not a hack. A long-term holder’s wallet was compromised, and 28.7 million CHR—valued at $2.26 million—was transferred within 2.5 hours. The token declined by 23.96% over four hours. Altcoins to monitor may include CHR as the market responds to the incident.

ChainThink reports that on July 23, according to official Chromia announcements, the price of CHR experienced a sharp decline; however, Chromia was not hacked, and the CHR token contract, cross-chain bridge, and protocol infrastructure remain unaffected.

The official statement indicated that the incident involved the compromise of a long-term holder's wallet, in which all assets—approximately $2.26 million, including 28.7 million CHR—were transferred to a new wallet and emptied within about 2.5 hours.

Chromia stated that the price volatility of CHR is due to selling pressure, not exploitation of a protocol vulnerability. According to market data, CHR has dropped 23.96% over the past 4 hours and is currently trading at 0.013 USDT.

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