EdgeX offers refunds and launches 200,000 USDC bounty after 71% token flash crash

EdgeX experienced a dramatic 71% flash crash in its EDGE token price due to a coordinated sell-off on PancakeSwap, likely by 174 addresses exploiting low liquidity. To restore market confidence, EdgeX is offering refunds to affected users and has launched a $200,000 USDC bounty to incentivize information about the incident. This move highlights the vulnerability of decentralized finance platforms to manipulative tactics and underscores the importance of robust liquidity management and vigilant monitoring in maintaining fair trading environments.