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{"actor":"system:backfill","investigation_id":"0097ae37-12f5-426c-b33c-3bb5ad91801b","kind":"publish","page_slug":"edgex-exchange","published_at":"2026-06-03T12:11:04.138Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"edgeX Exchange","sections":[{"content":"edgeX Exchange is a decentralized perpetual futures trading platform built on StarkEx Layer 2 technology, which uses zero-knowledge rollups to process trades with high throughput and low latency while settling on Ethereum. The project was formally established in 2023, incubated by Amber Group, a digital asset management and market-making firm. The platform targets institutional-grade performance for retail traders, positioning itself as a CEX-quality experience with DEX-level self-custody and transparency. The team reportedly includes professionals with backgrounds at Morgan Stanley, Barclays, Goldman Sachs, Bybit, and Huobi, though most team members use pseudonymous handles in public communications. Since its public debut in November 2024, edgeX reported reaching approximately $438 million in total value locked and over 154,000 registered users. Monthly trading volume reached an all-time high of $167.2 billion in November 2025, ranking the platform among the top five perpetual DEXs by volume. As of June 2026, edgeX had launched a V2 upgrade built on its proprietary EDGE Chain, which moves all trading on-chain across 40 pairs including derivatives for equities and commodities.","heading":"Background and Platform Overview","severity":"low","sources":[{"credibility":2,"name":"What Is EdgeX Exchange: Complete Beginners' Guide - Coin Bureau","type":"research","url":"https://coinbureau.com/review/what-is-edgex-exchange"},{"credibility":2,"name":"edgeX: Where Mobile Traders Meet Institutional Liquidity - The Block","type":"news_article","url":"https://www.theblock.co/post/386700/edgex-where-mobile-traders-meet-institutional-liquidity"},{"credibility":2,"name":"What Is edgeX and How to Buy EDGE - KuCoin","type":"other","url":"https://www.kucoin.com/blog/what-is-edgex-and-how-to-buy-edge"}]},{"content":"The EDGE token launched on March 31, 2026 with a hard-capped total supply of 1 billion tokens. At TGE, approximately 350 million EDGE (35% of total supply) entered circulation. The project had publicly promoted a 25% community airdrop allocation to points and NFT holders. However, post-launch on-chain analysis by Arkham Intelligence and independent researchers identified a significant discrepancy between stated and actual community distribution. According to this on-chain data, approximately 14% of total supply (roughly 140 million tokens, valued at approximately $94.6 million at TGE-era prices) was directed to wallets labeled as 'partners and liquidity providers' rather than to ordinary users. An additional 7% remained in the airdrop wallet awaiting distribution. Approximately 69.5% of the 1 billion token supply (695 million tokens) was held in 52 wallets characterized by analysts as developer- or insider-controlled, leaving only approximately 9.5% of total supply in open-market circulation — substantially below the 35% circulating supply figure cited in official communications. Users reported a 'same points, different rights' phenomenon in which newly created wallets received hundreds of thousands of tokens while long-term users earned only thousands. Investigators documented over 80 interconnected addresses that were created 4–10 days before TGE, received gas funding from major exchange hot wallets including Binance, OKX, and Gate.io, and collectively claimed approximately 180 million EDGE tokens with per-point valuations exceeding $100 while ordinary users received under $2 per point. These findings were published prior to the June 1 crash and represent a pre-existing controversy independent of the crash event. In response to the initial community backlash, edgeX announced it would lock the disputed 14% partner allocation for one year. The team also allegedly disabled comments on its X account, deleted Telegram and Discord posts, and removed users who expressed concerns, actions characterized by critics as suppression of legitimate criticism.","heading":"Token Generation Event and Airdrop Distribution Controversy","severity":"high","sources":[{"credibility":2,"name":"Is EdgeX Airdrop A Scam? Insider Allocation Revealed - CoinGabbar","type":"news_article","url":"https://www.coingabbar.com/en/crypto-currency-news/edgex-airdrop-195m-distribution-sparks-transparency-scam-debate"},{"credibility":2,"name":"edgeX EDGE Token Lockup: 14% Supply Freeze - MEXC News","type":"news_article","url":"https://www.mexc.com/news/996487"},{"credibility":2,"name":"Review of the edgeX Airdrop: From Wash Trading to Harvesting - Odaily","type":"research","url":"https://www.odaily.news/en/post/5210044"},{"credibility":2,"name":"EdgeX Airdrop Controversy: $195M EDGE Token Distribution Sparks Community Backlash - Gate","type":"news_article","url":"https://www.gate.com/news/detail/arkham-edgex-airdrops-195-million-with-nearly-half-of-the-tokens-flowing-to-19951908"},{"credibility":2,"name":"edgeX set to launch $EDGE token amid transparency concerns - crypto.news","type":"news_article","url":"https://crypto.news/edgex-set-to-launch-edge-token-amid-transparency-concerns/"}]},{"content":"Beginning at approximately 9:00 p.m. UTC on June 1, 2026, the EDGE token underwent a sharp price collapse across all major centralized and decentralized venues including Binance, OKX, Bybit, Bitget, and Gate.io. The token dropped from approximately $1.14–$1.26 to a session low of approximately $0.31–$0.37, representing a decline of 70–77% within a matter of hours. The sell-off wiped over $220 million from the token's market capitalization, which had peaked at approximately $440 million. Trading volume surged by approximately 1,645%, surpassing $138 million in the 24 hours following the crash. On-chain observers noted that approximately $1.6 million in liquidity was pulled from SpotVault during this period. The crash triggered approximately $2.81 million in liquidations within the first hour, affecting over 3,840 traders with long positions accounting for approximately $1.96 million and short positions approximately $849,000. EDGE had reached an all-time high of approximately $1.54 on May 22, 2026, just eleven days prior to the collapse. By June 3, 2026 EDGE was trading at approximately $0.62, a partial recovery but still approximately 50% below its pre-crash level.","heading":"June 1 2026 Token Collapse","severity":"critical","sources":[{"credibility":2,"name":"EDGE Crashes 77% as edgeX Blames Manipulation, ZachXBT Demands Transparency - The Crypto Times","type":"news_article","url":"https://www.cryptotimes.io/2026/06/02/edge-crashes-77-as-edgex-blames-manipulation-zachxbt-demands-transparency/"},{"credibility":2,"name":"EdgeX blames external party for token crash as ZachXBT alleges insider manipulation - CoinTelegraph via TradingView","type":"news_article","url":"https://www.tradingview.com/news/cointelegraph:892b00b0a094b:0-edgex-blames-external-party-for-token-crash-as-zachxbt-alleges-insider-manipulation/"},{"credibility":2,"name":"EDGE Token Drops 77% Amid Suspected Market Manipulation - KuCoin","type":"news_article","url":"https://www.kucoin.com/news/flash/edge-token-plummets-77-amid-suspected-market-manipulation"},{"credibility":2,"name":"EDGE Token Crashes 74% in Hours as ZachXBT Questions Market Manipulation Claims - Coinpedia","type":"news_article","url":"https://coinpedia.org/news/edge-token-crashes-74-in-hours-as-zachxbt-questions-market-manipulation-claims/"},{"credibility":2,"name":"ZachXBT challenges EdgeX explanation after EDGE token drops 70% - MEXC News","type":"news_article","url":"https://www.mexc.co/en-IN/news/1125098"}]},{"content":"Following the crash, edgeX published a statement asserting that what occurred was not a hack, exploit, or security breach, and that core smart contracts continued to operate normally. The team stated it had observed a 'sudden and irregular price movement' and initiated an investigation. edgeX characterized the event as a 'market integrity issue' and stated that early findings pointed to 'deliberate attempts by certain external party to manipulate the market price of EDGE.' The platform announced it was collaborating with Binance, OKX, Bybit, Bitget, and Gate.io to identify the responsible parties and pursue accountability. As of June 3, 2026, edgeX had not publicly identified the alleged external party, had not disclosed trading data supporting its manipulation claim, and had not published the promised incident report. The team's framing — that it had 'investigated ourselves and did not find ourselves guilty' — was quoted critically by ZachXBT as a summary of the inherent conflict of interest in self-investigation.","heading":"edgeX's Official Response","severity":"high","sources":[{"credibility":2,"name":"EDGE Crashes 77% as edgeX Blames Manipulation, ZachXBT Demands Transparency - The Crypto Times","type":"news_article","url":"https://www.cryptotimes.io/2026/06/02/edge-crashes-77-as-edgex-blames-manipulation-zachxbt-demands-transparency/"},{"credibility":2,"name":"EdgeX blames external party for token crash as ZachXBT alleges insider manipulation - CoinTelegraph via TradingView","type":"news_article","url":"https://www.tradingview.com/news/cointelegraph:892b00b0a094b:0-edgex-blames-external-party-for-token-crash-as-zachxbt-alleges-insider-manipulation/"},{"credibility":2,"name":"edgeX EDGE Token Experiences Abnormal Price Fluctuations, Investigation Underway - WEEX","type":"news_article","url":"https://www.weex.com/news/detail/edgex-edge-token-experiences-abnormal-price-fluctuations-investigation-underway-bkp7chjesd49gilvd1t9sw8q"}]},{"content":"On-chain investigator ZachXBT publicly disputed edgeX's external-manipulation explanation, asserting that 'we all know EdgeX supply was being controlled by a few insiders with a low float.' ZachXBT demanded that edgeX 'name the counterparties / MM agreements' publicly, arguing that the token's thin free-float made it structurally vulnerable to coordinated insider selling. ZachXBT drew explicit comparisons to a pattern he had previously documented in tokens including RAVE, RIVER, SIREN, and LAB, which he described as sharing a common playbook: insider-controlled token supply, opaque market-making agreements, coordinated exchange listings to generate artificial price appreciation, and eventual sharp crashes that transferred value from retail holders to insiders. In a separately documented investigation, ZachXBT alleged that LAB's token was approximately 95% insider-controlled at the time of its collapse. ZachXBT also alleged that Bitget had knowingly enabled market makers to run supply-control schemes across these tokens. The on-chain data regarding edgeX's airdrop distribution — showing approximately 69.5% of supply in insider-affiliated wallets and only 9.5% in genuine public circulation — was independently consistent with ZachXBT's supply-control thesis, though ZachXBT's public statements on edgeX specifically did not include a quantified on-chain breakdown. edgeX had not responded substantively to ZachXBT's specific demands regarding market-maker agreements as of June 3, 2026.","heading":"ZachXBT Allegations of Insider Supply Control","severity":"critical","sources":[{"credibility":2,"name":"EDGE token crashes as ZachXBT questions insider control - crypto.news","type":"news_article","url":"https://crypto.news/edge-token-crashes-as-zachxbt-questions-insider-control/"},{"credibility":2,"name":"ZachXBT challenges EdgeX explanation after EDGE token drops 70% - MEXC News","type":"news_article","url":"https://www.mexc.co/en-IN/news/1125098"},{"credibility":2,"name":"ZachXBT Names RAVE, RIVER, SIREN, and LAB as Victims of Bitget-Enabled Market Maker Fraud - Bitcoin.com News","type":"news_article","url":"https://news.bitcoin.com/zachxbt-bitget-supply-control-manipulation-rave-river-siren-lab-2026/"},{"credibility":2,"name":"ZachXBT Alleges 95% LAB Token Are Controlled by Insiders - The Crypto Times","type":"news_article","url":"https://www.cryptotimes.io/2026/05/14/zachxbt-alleges-95-lab-token-are-controlled-by-insiders/"},{"credibility":2,"name":"ZachXBT Alleges 95% insider control of LAB token - The Block","type":"news_article","url":"https://www.theblock.co/post/401290/zachxbt-alleges-95-insider-control-of-lab-token-in-investigation-into-ai-terminals-6-billion-fdv-project"}]},{"content":"The EDGE token's structure presents several compounding risk factors that analysts noted prior to and following the June 2026 crash. With a total supply of 1 billion tokens and a circulating supply of approximately 350 million (35%), the fully diluted valuation at pre-crash prices of approximately $1.20 reached approximately $1.2 billion — roughly 3.4 times the then-current market capitalization of approximately $350 million. This FDV-to-market-cap ratio indicates substantial forthcoming supply unlock pressure. The on-chain finding that only approximately 9.5% of total supply was in genuine open-market circulation — rather than the 35% circulating supply figure — creates a structurally thin float that makes the token particularly susceptible to price swings driven by large holders, market makers, or coordinated selling. The trading volume anomalies documented by researchers — including over $1 billion in open interest against only $200 million in TVL and consistently high volumes showing 'almost no significant liquidations' during prior volatile periods — were flagged as potentially inconsistent with organic trading activity. The April 2026 correction of approximately 25% and the June 2026 collapse to approximately $0.31 both occurred without edgeX having publicly disclosed market-maker agreements, vesting schedules, or insider wallet identities, limiting the ability of market participants to assess concentration risk.","heading":"Token Structural Risk Factors","severity":"high","sources":[{"credibility":2,"name":"EdgeX blames external party for token crash as ZachXBT alleges insider manipulation - CoinTelegraph via TradingView","type":"news_article","url":"https://www.tradingview.com/news/cointelegraph:892b00b0a094b:0-edgex-blames-external-party-for-token-crash-as-zachxbt-alleges-insider-manipulation/"},{"credibility":2,"name":"Review of the edgeX Airdrop: From Wash Trading to Harvesting - Odaily","type":"research","url":"https://www.odaily.news/en/post/5210044"},{"credibility":2,"name":"EDGE Crashes 77% as edgeX Blames Manipulation, ZachXBT Demands Transparency - The Crypto Times","type":"news_article","url":"https://www.cryptotimes.io/2026/06/02/edge-crashes-77-as-edgex-blames-manipulation-zachxbt-demands-transparency/"}]},{"content":"edgeX has received investment from Amber Group (as incubator), Circle Ventures, and Fidenza Capital. Amber Group led or participated in a pre-seed round in approximately December 2024, the precise size of which was not publicly disclosed. Circle Ventures announced its investment in approximately January 2026, ahead of TGE, with an accompanying plan to deploy native USDC on the EDGE Chain via Circle's Cross-Chain Transfer Protocol (CCTP). Circle did not disclose the investment amount, valuation, or whether it took a board seat. The strategic value of Circle Ventures' backing — particularly the USDC integration — was cited in edgeX's pre-TGE marketing. Following the June 2026 crash and the emergence of detailed allegations regarding insider token distribution, neither Amber Group nor Circle Ventures had publicly addressed the controversy as of June 3, 2026.","heading":"Funding and Backers","severity":"medium","sources":[{"credibility":2,"name":"Circle Ventures invests in edgeX ahead of token launch - The Block","type":"news_article","url":"https://www.theblock.co/post/389202/circle-ventures-edgex-token-launch-usdc-edge-chain"},{"credibility":2,"name":"Amber Group-Backed Perp DEX edgeX to Launch Token on March 31 - The Defiant","type":"news_article","url":"https://thedefiant.io/news/defi/amber-group-backed-perp-dex-edgex-to-launch-token-on-march-31"},{"credibility":2,"name":"Circle Ventures Backs Perpetual Futures Platform edgeX - Yellow.com","type":"news_article","url":"https://yellow.com/news/circle-ventures-backs-perpetual-futures-platform-edgex-plans-usdc-on-edge-chain"}]},{"content":"As of June 3, 2026, several material questions remain publicly unanswered. edgeX has not identified the alleged external party responsible for market manipulation. It has not disclosed which market-maker agreements were in place at the time of the crash, who the counterparties were, or the terms of those arrangements. It has not provided an independent on-chain accounting of the 80+ wallet cluster that allegedly collected approximately 180 million EDGE tokens via coordinated airdrop farming. The promised incident report has not been published. The discrepancy between the stated 35% circulating supply and the independently observed approximately 9.5% genuine float has not been addressed by the team. No regulatory body had publicly opened an investigation into the June 1 crash as of the date of this report. The situation shares structural characteristics with documented cases investigated by ZachXBT involving RAVE, RIVER, SIREN, and LAB, in which supply concentration and opaque market-making agreements were alleged to have facilitated retail losses. These similarities are noted here as a pattern-match, not as a factual equivalence; edgeX's specific role — as victim, as negligent party, or as actor — in the June 1 collapse has not been established by any independent investigation.","heading":"Unanswered Questions and Ongoing Risks","severity":"critical","sources":[{"credibility":2,"name":"EDGE token crashes as ZachXBT questions insider control - crypto.news","type":"news_article","url":"https://crypto.news/edge-token-crashes-as-zachxbt-questions-insider-control/"},{"credibility":2,"name":"EDGE Crashes 77% as edgeX Blames Manipulation, ZachXBT Demands Transparency - The Crypto Times","type":"news_article","url":"https://www.cryptotimes.io/2026/06/02/edge-crashes-77-as-edgex-blames-manipulation-zachxbt-demands-transparency/"},{"credibility":2,"name":"EdgeX Token Crashes 47% in Hours as ZachXBT Accuses Insiders of Market Manipulation - NullTX","type":"news_article","url":"https://nulltx.com/edgex-token-crashes-47-in-hours-as-zachxbt-accuses-insiders-of-market-manipulation/"}]}],"sources_used":[{"credibility":2,"name":"EDGE Crashes 77% as edgeX Blames Manipulation, ZachXBT Demands Transparency - The Crypto Times","type":"news_article","url":"https://www.cryptotimes.io/2026/06/02/edge-crashes-77-as-edgex-blames-manipulation-zachxbt-demands-transparency/"},{"credibility":2,"name":"EDGE token crashes as ZachXBT questions insider control - crypto.news","type":"news_article","url":"https://crypto.news/edge-token-crashes-as-zachxbt-questions-insider-control/"},{"credibility":2,"name":"EdgeX blames external party for token crash as ZachXBT alleges insider manipulation - CoinTelegraph via TradingView","type":"news_article","url":"https://www.tradingview.com/news/cointelegraph:892b00b0a094b:0-edgex-blames-external-party-for-token-crash-as-zachxbt-alleges-insider-manipulation/"},{"credibility":2,"name":"EDGE Token Crashes 74% in Hours as ZachXBT Questions Market Manipulation Claims - Coinpedia","type":"news_article","url":"https://coinpedia.org/news/edge-token-crashes-74-in-hours-as-zachxbt-questions-market-manipulation-claims/"},{"credibility":2,"name":"EDGE Token Drops 77% Amid Suspected Market Manipulation - KuCoin","type":"news_article","url":"https://www.kucoin.com/news/flash/edge-token-plummets-77-amid-suspected-market-manipulation"},{"credibility":2,"name":"Is EdgeX Airdrop A Scam? Insider Allocation Revealed - CoinGabbar","type":"news_article","url":"https://www.coingabbar.com/en/crypto-currency-news/edgex-airdrop-195m-distribution-sparks-transparency-scam-debate"},{"credibility":2,"name":"edgeX EDGE Token Lockup: Decisive Move to Resolve Airdrop Controversy with 14% Supply Freeze - MEXC News","type":"news_article","url":"https://www.mexc.com/news/996487"},{"credibility":2,"name":"Review of the edgeX Airdrop: From Wash Trading to Harvesting - Odaily","type":"research","url":"https://www.odaily.news/en/post/5210044"},{"credibility":2,"name":"ZachXBT challenges EdgeX explanation after EDGE token drops 70% - MEXC News","type":"news_article","url":"https://www.mexc.co/en-IN/news/1125098"},{"credibility":2,"name":"ZachXBT Names RAVE, RIVER, SIREN, and LAB as Victims of Bitget-Enabled Market Maker Fraud - Bitcoin.com News","type":"news_article","url":"https://news.bitcoin.com/zachxbt-bitget-supply-control-manipulation-rave-river-siren-lab-2026/"},{"credibility":2,"name":"ZachXBT Alleges 95% insider control of LAB token - The Block","type":"news_article","url":"https://www.theblock.co/post/401290/zachxbt-alleges-95-insider-control-of-lab-token-in-investigation-into-ai-terminals-6-billion-fdv-project"},{"credibility":2,"name":"ZachXBT Alleges 95% LAB Token Are Controlled by Insiders - The Crypto Times","type":"news_article","url":"https://www.cryptotimes.io/2026/05/14/zachxbt-alleges-95-lab-token-are-controlled-by-insiders/"},{"credibility":2,"name":"Circle Ventures invests in edgeX ahead of token launch - The Block","type":"news_article","url":"https://www.theblock.co/post/389202/circle-ventures-edgex-token-launch-usdc-edge-chain"},{"credibility":2,"name":"Amber Group-Backed Perp DEX edgeX to Launch Token on March 31 - The Defiant","type":"news_article","url":"https://thedefiant.io/news/defi/amber-group-backed-perp-dex-edgex-to-launch-token-on-march-31"},{"credibility":2,"name":"edgeX: Where Mobile Traders Meet Institutional Liquidity - The Block","type":"news_article","url":"https://www.theblock.co/post/386700/edgex-where-mobile-traders-meet-institutional-liquidity"},{"credibility":2,"name":"What Is EdgeX Exchange: Complete Beginners Guide - Coin Bureau","type":"research","url":"https://coinbureau.com/review/what-is-edgex-exchange"},{"credibility":2,"name":"edgeX price today, EDGE to USD live price - CoinMarketCap","type":"other","url":"https://coinmarketcap.com/currencies/edgex/"},{"credibility":2,"name":"EdgeX Airdrop Controversy: $195M EDGE Token Distribution Sparks Community Backlash - Gate","type":"news_article","url":"https://www.gate.com/news/detail/arkham-edgex-airdrops-195-million-with-nearly-half-of-the-tokens-flowing-to-19951908"},{"credibility":2,"name":"edgeX set to launch $EDGE token amid transparency concerns - crypto.news","type":"news_article","url":"https://crypto.news/edgex-set-to-launch-edge-token-amid-transparency-concerns/"},{"credibility":2,"name":"EdgeX Token Crashes 47% in Hours as ZachXBT Accuses Insiders of Market Manipulation - NullTX","type":"news_article","url":"https://nulltx.com/edgex-token-crashes-47-in-hours-as-zachxbt-accuses-insiders-of-market-manipulation/"}],"summary":"edgeX Exchange is a StarkEx-powered perpetual futures DEX incubated by Amber Group, which launched its EDGE token on March 31, 2026. On June 1, 2026, the EDGE token collapsed approximately 70–77% within hours, erasing over $220 million in market capitalization and triggering roughly $2.81 million in liquidations. The team attributed the crash to deliberate external market manipulation, while on-chain investigator ZachXBT publicly alleged insider supply control and demanded disclosure of market-maker agreements — allegations that remain publicly unanswered as of June 3, 2026.","timeline":[{"date":"2023-01-01","event":"edgeX Exchange formally established, incubated by Amber Group","source":"Coin Bureau review of edgeX Exchange","source_url":"https://coinbureau.com/review/what-is-edgex-exchange"},{"date":"2024-11-01","event":"edgeX publicly launches, begins accumulating users and TVL","source":"edgeX: Where Mobile Traders Meet Institutional Liquidity - The Block","source_url":"https://www.theblock.co/post/386700/edgex-where-mobile-traders-meet-institutional-liquidity"},{"date":"2024-12-01","event":"Amber Group leads pre-seed investment round in edgeX (amount undisclosed)","source":"edgeX Funding Rounds - CryptoRank","source_url":"https://cryptorank.io/ico/edgex"},{"date":"2025-11-01","event":"edgeX reports all-time high monthly trading volume of $167.2 billion, ranking it among top five perpetual DEXs","source":"What Is EdgeX Exchange: Complete Beginners Guide - Coin Bureau","source_url":"https://coinbureau.com/review/what-is-edgex-exchange"},{"date":"2026-01-01","event":"Circle Ventures announces investment in edgeX, plans native USDC deployment on EDGE Chain","source":"Circle Ventures invests in edgeX ahead of token launch - The Block","source_url":"https://www.theblock.co/post/389202/circle-ventures-edgex-token-launch-usdc-edge-chain"},{"date":"2026-03-31","event":"EDGE token TGE on Base network; approximately 350 million tokens (35% of 1 billion supply) enter stated circulation; token opens at approximately $0.73","source":"What Is EdgeX Exchange: Complete Beginners Guide - Coin Bureau","source_url":"https://coinbureau.com/review/what-is-edgex-exchange"},{"date":"2026-04-01","event":"Community backlash begins over airdrop distribution; on-chain data shows 14% of supply sent to partner wallets, only approximately 4% reaching ordinary users; edgeX locks 140 million tokens for one year","source":"Is EdgeX Airdrop A Scam? Insider Allocation Revealed - CoinGabbar","source_url":"https://www.coingabbar.com/en/crypto-currency-news/edgex-airdrop-195m-distribution-sparks-transparency-scam-debate"},{"date":"2026-04-01","event":"EDGE token corrects approximately 25% in a first major drawdown following TGE controversy","source":"EDGE Crashes 77% as edgeX Blames Manipulation, ZachXBT Demands Transparency - The Crypto Times","source_url":"https://www.cryptotimes.io/2026/06/02/edge-crashes-77-as-edgex-blames-manipulation-zachxbt-demands-transparency/"},{"date":"2026-05-22","event":"EDGE token reaches all-time high of approximately $1.54","source":"ZachXBT challenges EdgeX explanation after EDGE token drops 70% - MEXC News","source_url":"https://www.mexc.co/en-IN/news/1125098"},{"date":"2026-06-01","event":"Starting approximately 9:00 p.m. UTC, EDGE collapses 70-77% from approximately $1.14-1.26 to a low of approximately $0.31-0.37; approximately $2.81 million in liquidations triggered affecting over 3,840 traders; over $220 million in market cap erased; approximately $1.6 million pulled from SpotVault","source":"EDGE Crashes 77% as edgeX Blames Manipulation, ZachXBT Demands Transparency - The Crypto Times","source_url":"https://www.cryptotimes.io/2026/06/02/edge-crashes-77-as-edgex-blames-manipulation-zachxbt-demands-transparency/"},{"date":"2026-06-02","event":"edgeX publishes statement attributing crash to deliberate external market manipulation; denies hack or security breach; states it is working with major exchanges to identify responsible parties","source":"edgeX EDGE Token Experiences Abnormal Price Fluctuations, Investigation Underway - WEEX","source_url":"https://www.weex.com/news/detail/edgex-edge-token-experiences-abnormal-price-fluctuations-investigation-underway-bkp7chjesd49gilvd1t9sw8q"},{"date":"2026-06-02","event":"ZachXBT publicly disputes edgeX's external-manipulation explanation, alleges insiders controlled supply through low float, demands disclosure of counterparties and market-maker agreements","source":"EDGE token crashes as ZachXBT questions insider control - crypto.news","source_url":"https://crypto.news/edge-token-crashes-as-zachxbt-questions-insider-control/"},{"date":"2026-06-03","event":"EDGE trading at approximately $0.62, approximately 50% below pre-crash level; edgeX has not published incident report or named alleged external party; market-maker agreements remain undisclosed","source":"edgeX price today, EDGE to USD live price, marketcap and chart - CoinMarketCap","source_url":"https://coinmarketcap.com/currencies/edgex/"}]},"v":1}