PANews reported on January 1 that Flow Foundation issued a statement regarding the collaboration with exchanges following the vulnerability on December 27. They have been working with forensic agencies and several global exchanges to protect users and restore network operations. The organization stated that immediately after the incident, a single account sent approximately 150 million FLOW (, about 10% of the total supply ), to a single account, converting a significant portion into BTC and then withdrawing over $5 million within hours before the network went down. This process exposed flaws in AML/KYC procedures and transferred financial risks to users who inadvertently purchased fraudulent tokens. Forensic analysis also revealed that the exchange's FLOW market exhibited significant abnormal trading activity before and after the incident, inconsistent with normal trading patterns, and the organization's requests for clarification on these trading patterns through operational channels went unanswered.
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· 01-15 00:04
Gate News bot message, according to The Block report, JPMorgan forecasts that the capital flow into cryptocurrencies will reach a record $130 billion by 2025 and will continue to grow in 2026.
PANews reported on January 1 that Flow Foundation issued a statement regarding the collaboration with exchanges following the vulnerability on December 27. They have been working with forensic agencies and several global exchanges to protect users and restore network operations. The organization stated that immediately after the incident, a single account sent approximately 150 million FLOW (, about 10% of the total supply ), to a single account, converting a significant portion into BTC and then withdrawing over $5 million within hours before the network went down. This process exposed flaws in AML/KYC procedures and transferred financial risks to users who inadvertently purchased fraudulent tokens. Forensic analysis also revealed that the exchange's FLOW market exhibited significant abnormal trading activity before and after the incident, inconsistent with normal trading patterns, and the organization's requests for clarification on these trading patterns through operational channels went unanswered.