SIREN Crashes 96% as Whale Dumps 94% of Supply
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Over the weekend the SIREN token collapsed from about $1.30 to $0.05 after its controller sold roughly 94% of the supply on the BNB Chain. The sell-off reignites centralization and security concerns flagged earlier by blockchain investigators and signals negative market impact and elevated risk for crypto investors and DeFi adoption.
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Over the weekend, the SIREN token collapsed from around $1.30 to $0.05 after its controller sold roughly 94% of the supply, according to reports by analysts from Spot On Chain and Lookonchain.
The sell-off reignited concerns that a single entity had too much control over the BNB Chain-based token, a risk that had been flagged by several blockchain investigators earlier in the year.
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