DEXE2026-08-06 02:39:09DEXE’s 96.8% collapse puts DWF, Falcon and Ceffu transfer routes under scrutinyDEXE’s crash in July 2026 has triggered a broad on-chain dispute that now stretches beyond a simple market sell-off narrative. The token reached about $49.43 on July 12, then started falling on July 13. On July 21 alone, it dropped from about $46.93 to $5.648 at one point, and within 11 days from the peak it bottomed near $1.56, marking a cumulative decline of 96.8%. Several public investigations cited in the source point to large DEXE transfers from a wallet labeled “Ceffu 2” into Binance deposit infrastructure during and around the drawdown. One count tracked 797,917.24 DEXE sent in six transfers after July 13, valued at roughly $6.15 million at the time of transfer. A broader review stretching back to February 2026 identified eight routes totaling 854,149.537853 DEXE, including one transfer of about 719,727 DEXE on July 22. The core controversy is not that DWF Labs has been proven to have caused the collapse. It has not. The issue is that DWF is a formal liquidity partner of DeXe, Falcon Finance publicly supports DEXE as collateral and uses Ceffu custody and MirrorX-style exchange access, and Falcon’s public ties to DWF are unusually close. That combination has led market observers to question whether DEXE held in custody, mapped into Binance trading accounts, and later settled on-chain could have been linked to DWF, Falcon, or clients using Falcon. DWF has admitted it held short positions and sold some spot DEXE, while DeXe says neither the foundation nor the DAO treasury sold tokens.3960
DEXE2026-07-24 15:34:54Ai Yi tracks 96.8% DEXE slide in 11 days, flags Ceffu transfers to BinanceDEXE fell sharply after hitting an all-time high of $49.432 on July 12, according to on-chain analyst Ai Yi, who said the token started declining on July 13 and saw its largest single-day drop on July 21. On that day, the price fell 88%, sliding from $46.93 to $5.648. Over 11 days, the drawdown reached 96.8%, with the token moving from $49.423 to $1.56. Ai Yi said large on-chain fund movements were mostly tied to centralized exchange hot wallets and that no anomaly had been identified other than Ceffu. The custody platform transferred a cumulative 797,900 DEXE to Binance in six transactions starting July 13, with an on-chain value of $6.15 million. Ai Yi described Ceffu as the only non-exchange entity linked to transfers in excess of $1 million for the token. The analyst added that under Ceffu’s MirrorX mechanism, DEXE held with the custodian can generate a 1:1 mirrored position on an exchange, while on-chain settlement is completed afterward. If that structure was used for advance trading, the effective value tied to the 797,900 DEXE would be $39.44 million. Ai Yi also said public information does not show the DEXE project team custodying tokens with Ceffu, and noted that most tokens appear to sit in the DAO treasury and team-related vesting contracts.2130
