edgeX Releases Report on EDGE Token Flash Crash and Announces $100,000 USDC Compensation Plan

According to Huoxing Finance, the edgeX official released a report on the abnormal price volatility of the EDGE token, stating that the price of EDGE dropped from approximately $1.12 to around $0.32 within about one hour due to a flash crash triggered by concentrated selling from multiple addresses during a period of low liquidity, compounded by leveraged long liquidations and联动 (coordination) with centralized exchanges. No changes occurred in the team’s wallet addresses during this period. edgeX stated it will enhance market-making and liquidity efforts and has established a $200,000 USDC on-chain bounty to trace addresses associated with the attack. Additionally, users who incurred actual realized losses due to forced liquidations or stop-loss triggers on their EDGE long positions on edgeX Perp V1/V2 within a specified time window will receive goodwill compensation equal to their actual loss amount, with a maximum of $100,000 USDC per user. Fifty percent of the compensation will be disbursed in USDC within seven days after verification, and the remaining fifty percent will be paid in EDGE tokens at the 7-day TWAP price during the first week of April 2027.