Security • October 17, 2023, 8:39AM EDT
Published 1 minute earlier on

Everscale token price drops 20% as team says large number of EVER tokens were stolen

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The Block

Quick Take

  • The team behind Layer 1 blockchain Everscale said a large number of EVER tokens have been stolen.
  • The price of EVER has fallen over 20% in the last 24 hours.

Everscale, a Layer 1 blockchain project built on the Telegram Open Network architecture, addressed the recent EVER volatility, saying a large number of tokens have been stolen.

“Friends, unfortunately, a large number of EVER tokens have been stolen,” the Everscale team posted on X.

The team said it had temporarily disconnected the Octus Bridge — a decentralized bridge between blockchains that is powered by Everscale — and is working closely with crypto exchanges that list EVER tokens to stop further outflow from the ecosystem.

EVER/USD price chart. Image: CoinGecko.

“Please stay calm and refrain from taking any hasty actions,” the team added. “We will provide more details as the situation becomes clearer in the course of our investigation.”

The price of EVER tokens has dropped more than 20% over the last 24 hours, according to CoinGecko data.


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