Chromia said a sharp drop in CHR was not caused by a hack of the project itself, stating that its token contract, cross-chain bridge, and protocol infrastructure were not affected. According to the team, the incident involved a long-term holder whose wallet was compromised. Assets worth about $2.26 million, including 28.7 million CHR, were moved to a new wallet and fully sold over roughly 2.5 hours. Chromia said the price move was driven by selling pressure rather than any exploit of the protocol. Bitget market data showed CHR down 23.96% over the past four hours, trading at 0.013 USDT at the time cited in the report.
Chromia said a sharp decline in CHR was not the result of a hack affecting the project itself. The team stated that the CHR token contract, cross-chain bridge, and protocol infrastructure were all unaffected.
In its statement, Chromia said the incident stemmed from a compromised wallet belonging to a long-term holder rather than an exploit tied to the protocol. The team said the wallet’s entire holdings, worth about $2.26 million and including 28.7 million CHR, were moved to a new wallet and fully sold over roughly 2.5 hours.
Chromia said the token’s price swing came from selling pressure and was not linked to any vulnerability being exploited in the protocol.
Separately, Bitget market data showed CHR down 23.96% over the past four hours, with the token quoted at 0.013 USDT.
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