StormX token price fluctuates wildly amid 'emergency' contract incident

Ecosystems•July 23, 2023, 5:35AM EDT
UPDATED: July 23, 2023, 5:54AM EDT
GoogleMake us preferred
StormX token price fluctuates wildly amid 'emergency' contract incident

Quick Take

  • The price of StormX’s STMX token experienced pump-and-dump price action today.
  • A translated tweet from a Binance customer service rep said the relevant team is dealing with “an emergency incident of the STMX contract.”
Advertisement

Crypto cash-back project StormX's token has seemingly experienced market manipulation amid what a Binance customer service rep calls an "emergency incident of the STMX contract."

"Regarding the emergency incident of the STMX contract, the relevant team is dealing with it urgently," a Twitter-translated tweet from @sisibinance reads.

The tweet, in translation, continues: "Further information will be synchronized with you later. Please enter the online customer service to fill out the appeal form."

Neither Sisi nor StormX immediately responded to a request for comment.

StormX's token is the 268th-ranked cryptocurrency by market capitalization, according to CoinGecko. Over the past 24 hours, the STMX price surged from $0.0063 to nearly $0.015 before experiencing a full retracement.

tradingview chart showing a stormx stmt pump and dump
The price of StormX's token surged before immediately collapsing today. Source: TradingView