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

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 -8.68% 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.


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“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.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

James Hunt is a reporter at The Block, based in the UK. As the writer behind The Daily newsletter, James also keeps you up to speed on the latest crypto news every weekday. Prior to joining The Block in 2022, James spent four years as a freelance writer in the industry, contributing to both publications and crypto project content. James’ coverage spans everything from Bitcoin and Ethereum to Layer 2 scaling solutions, avant-garde DeFi protocols, evolving DAO governance structures, trending NFTs and memecoins, regulatory landscapes, crypto company deals and the immersive metaverse. You can get in touch with James on Twitter or Telegram via @humanjets or email him at [email protected].


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