SOON Response to Price Flash Crash: Attacker Carefully Orchestrated, Project Team and Liquidity Providers Not Involved in This Event

By: theblockbeats.news|2025/07/10 10:36:53

BlockBeats News, July 10th, SOON issued a statement on X Platform in response to the coin price flash crash event on July 5th. The SOON Foundation stated that the attacker conducted simultaneous withdrawals and cross-CEX selling, and the highly coordinated nature of their actions indicates this was a carefully planned operation. At the same time, the attacker exploited extremely negative funding rates in contract trades to earn huge profits from short positions.

The SOON Foundation clarified that neither the project team nor SOON's official market maker partners, Jump Crypto and Amber Group, participated in any capacity in the July 5th event, and disclosed the holding addresses of all relevant parties.

At WEEX, we recognize that the holiday season often brings a different trading experience for many users. As market participation slows, price behavior can feel less predictable and familiar trading rhythms may shift. For traders following AI news today or using AI trading tools, this period often highlights how market structure can influence model performance and short-term signals. Approaching these periods with clear expectations and a disciplined mindset can help traders better navigate seasonal market conditions.

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