PANews reported on November 20th that Nillion, a blind computer network, posted on its X platform: "It has been confirmed that a market maker sold NIL tokens without legal authorization from the Nillion Association. Subsequently, during the flash crash and for several hours afterward, the market maker refused to respond to any communication from the team. Nillion is taking immediate action, and the Nillion Association has begun using its reserves to repurchase the sold tokens. Nillion also promises to use all funds recovered from the unauthorized sale of tokens by the market maker to repurchase more NIL tokens. Nillion stated that it is actively pursuing legal action and is cooperating with its exchange partners to ensure that all accounts and wallets related to this incident have been frozen." Earlier today, it was reported that Nillion tokens had fallen by more than 60% at one point.PANews reported on November 20th that Nillion, a blind computer network, posted on its X platform: "It has been confirmed that a market maker sold NIL tokens without legal authorization from the Nillion Association. Subsequently, during the flash crash and for several hours afterward, the market maker refused to respond to any communication from the team. Nillion is taking immediate action, and the Nillion Association has begun using its reserves to repurchase the sold tokens. Nillion also promises to use all funds recovered from the unauthorized sale of tokens by the market maker to repurchase more NIL tokens. Nillion stated that it is actively pursuing legal action and is cooperating with its exchange partners to ensure that all accounts and wallets related to this incident have been frozen." Earlier today, it was reported that Nillion tokens had fallen by more than 60% at one point.
Nillion: A market maker sold NIL tokens without authorization. We are taking countermeasures and pursuing legal action.
PANews reported on November 20th that Nillion, a blind computer network, posted on its X platform: "It has been confirmed that a market maker sold NIL tokens without legal authorization from the Nillion Association. Subsequently, during the flash crash and for several hours afterward, the market maker refused to respond to any communication from the team. Nillion is taking immediate action, and the Nillion Association has begun using its reserves to repurchase the sold tokens. Nillion also promises to use all funds recovered from the unauthorized sale of tokens by the market maker to repurchase more NIL tokens. Nillion stated that it is actively pursuing legal action and is cooperating with its exchange partners to ensure that all accounts and wallets related to this incident have been frozen."
Earlier today, it was reported that Nillion tokens had fallen by more than 60% at one point.
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