A 4B $ONE mint that crushed price 37,40% was not even the full story.
Most traders fear the red candle, but the real danger often happens before the chart reacts. In past cycles, I’ve seen people buy “the dip” on exploited tokens thinking panic is over, only to learn the damage was still unfolding.
The first mint was roughly 26% of supply, already enough to wreck confidence. But the same day, a second and larger exploit reportedly created 30B more $ONE through a different vulnerability, worth over $234M at the time.
The lesson here is simple: not all sell-offs are equal. A normal market dump on $BTC or $ETH is one thing; a supply-side exploit is another beast entirely. When attackers can mint tokens through broken validation, in this case forged cross-shard receipts with zero signatures and a dead address, price support becomes almost meaningless until the full scope is known.
Old-cycle wisdom: after an exploit, wait for clarity on total exposure, patched attack vectors, and supply accounting before calling a bottom. What would you need to see before trusting a recovery here?
#CryptoSecurity #Altcoins #RiskManagement
Most traders fear the red candle, but the real danger often happens before the chart reacts. In past cycles, I’ve seen people buy “the dip” on exploited tokens thinking panic is over, only to learn the damage was still unfolding.
The first mint was roughly 26% of supply, already enough to wreck confidence. But the same day, a second and larger exploit reportedly created 30B more $ONE through a different vulnerability, worth over $234M at the time.
The lesson here is simple: not all sell-offs are equal. A normal market dump on $BTC or $ETH is one thing; a supply-side exploit is another beast entirely. When attackers can mint tokens through broken validation, in this case forged cross-shard receipts with zero signatures and a dead address, price support becomes almost meaningless until the full scope is known.
Old-cycle wisdom: after an exploit, wait for clarity on total exposure, patched attack vectors, and supply accounting before calling a bottom. What would you need to see before trusting a recovery here?
#CryptoSecurity #Altcoins #RiskManagement