EdgeX / EDGE Token
Last changed 2026-10-14 · Re-researched — Re-researched in full by the investigator agent; the text was rewritten from new research. Version history →
Why this score
| Every page starts at | 65 |
| The subject's own conduct | -65 |
| Concerns that are not fraud | -9.2 |
| Problems around it, caused by others | -3.3 |
| Long-running | +4 |
| Audited | +4 |
| Sum | -4 |
- No established finding that it defrauded anyone, so it stays out of the red band (26 or above).
Score: 26/100 (kept between 0 and 100)
How scoring works →Summary
edgeX is a decentralized perpetual futures exchange incubated by Amber Group, whose native EDGE token launched at a Token Generation Event on 31 March 2026. A post-launch airdrop drew allegations of insider and partner concentration, and on 1-2 June 2026 the token fell roughly 70-77% within hours, erasing over $220 million in market value. edgeX attributed the crash to deliberate manipulation by an unidentified external party and denies involvement, while on-chain investigator ZachXBT alleged that a few insiders controlled a thin float; the allegations are unproven, edgeX has not disclosed its market-maker agreements, and no regulatory action had been reported by early June 2026.
Connected Entities
9 entities · 60 linked investigations- edgeX Exchange→mentioned with→Base(60%)
- edgeX Exchange→mentioned with→Ethereum(60%)
- edgeX Exchange→mentioned with→ZachXBT(70%)
- edgeX Exchange→mentioned with→Bitget(70%)
- edgeX Exchange→mentioned with→Binance(70%)
- ZachXBT→mentioned with→Ethereum(70%)
- ZachXBT→mentioned with→Kraken(60%)
- ZachXBT→mentioned with→Binance(60%)
- EdgeX / EDGE Token→mentioned with→Bitget(70%)
- EdgeX / EDGE Token→mentioned with→Binance(65%)
- + 8 more
Connected Through
6 shared actors · 603 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □Ethereumorganization
- □ZachXBTorganization
- □Binanceorganization
- □Krakenorganization
4 submissions awaiting moderator review.
Timeline(17 events)
2023
edgeX Exchange formally established, incubated by Amber Group (per one account; another dates establishment to March 2024).
Coin BureauMarch 2024
edgeX formally established, incubated by Amber Group (per one account; another dates it to 2023).
Coin Bureau / The BlockNovember 2024
edgeX publicly launches (per The Block) and begins accumulating users and TVL.
The BlockNovember 2025
edgeX reports an all-time-high monthly trading volume of $167.2 billion, ranking among the top five perpetual DEXs.
Coin BureauFebruary 2026
10 February 2026 (another account says approximately January 2026): Circle Ventures announces a strategic investment in edgeX ahead of the EDGE token launch, with plans for native USDC on the EDGE Chain.
The BlockMarch 2026
31 March 2026: EDGE launches at TGE with 350 million of 1 billion tokens in stated circulation and a Genesis airdrop of 25% of supply; one account says the token opened at about $0.73 on Base.
The Crypto Times / Coin BureauApril 2026
Arkham Intelligence and on-chain analysts surface data alleging $195 million of airdropped EDGE concentrated in team-linked wallets, with about $90 million sent to 80+ fresh addresses; community backlash begins.
Gate News / AMBCryptoApril 2026
edgeX responds to the backlash by locking 141,658,500 EDGE (14% of supply; about 140 million in other accounts) in an OpenZeppelin-audited VestingWallet for one year and launching a buyback-and-burn programme.
CoinGabbar / AMBCryptoApril 2026
EDGE corrects about 25% in a first major drawdown after the TGE controversy.
The Crypto TimesJune 2026
1 June 2026, from about 9:00 p.m. UTC: EDGE falls from about $1.14-1.26 to about $0.31-0.37 (a 70-77% decline), with 174 wallets reportedly executing coordinated sells in one 60-second window; over $220 million of market value is erased and about $2.81 million is liquidated; the crash spreads across Binance, OKX, Bybit, Bitget and Gate.io markets.
The Crypto TimesJune 2026
2 June 2026: edgeX acknowledges abnormal price movement (about 6:06 a.m. UTC), states no security breach occurred (about 7:06 a.m. UTC) and attributes the crash to deliberate manipulation by an unidentified external party; ZachXBT publicly disputes this and demands disclosure of market-maker agreements.
CoinTelegraph / crypto.newsJune 2026
3 June 2026: according to NullTX and The Block, edgeX publishes its incident report, announces a 200,000 USDC bounty and a goodwill compensation programme capped at 100,000 USDC per account; ZachXBT mocks the self-investigation. Another account states the report had not been published by this date. EDGE trades near $0.62, about 50% below its pre-crash level.
NullTX / CryptoPotato / CoinMarketCapJune 2026
4 June 2026: the investigation into the alleged external attack remains unresolved with no responsible parties named; the payback plan status is disputed and edgeX has not disclosed market-maker agreements or detailed insider allocations.
The Crypto TimesDecision Log
- slot 455360117 · hash BgF2fj9334hZnzHY4TU96g14sqSFwx6t5NawD1F59yA3
- slot 425436352 · hash DFMaiib4a7kymPDcbQW3cQWw3DZgKTRiSNgjZAGz8Wv2
- slot 425436346 · hash 9jtR1Wwvwy9uzZoUU2pWNLYx6TiYNe1mstVavTDyAbqU
- slot 424240273 · hash AgGexrdhjd9PbdYTYm4KDmNj5DeVYMZJVjDgAf2LFEQY
This investigation is cryptographically anchored to the Solana blockchain (4 decisions). 38 of 38 cited source URLs have an Internet Archive snapshot.
model: claude-code-merge-writer
generated: 6/4/2026, 12:05:59 PM
last updated: 10/14/2026, 12:24:29 AM
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