This Wednesday, edgeX reported that it will refund losses suffered by users affected by an “attack” on the EDGE token that occurred a day earlier. Sources from edgeX assured that they will offer “goodwill care payments” to those users who incurred losses due to liquidations of long positions in EDGE or stop-loss triggers between 04:50 and 06:00 (UTC+8) on June 2 on their edgeX Perp V1 and V2 platforms.
— edgeX🦠(@edgeX_exchange) June 3, 2026
This incident, driven by low initial liquidity on PancakeSwap that was exploited by multiple addresses, caused a 23% drop in the spot price of EDGE, quickly spreading to edgeX perpetual markets and centralized exchanges (CEXs). The compensation will cover “actual losses” realized during the specified period, capped at 100,000 USDC per user, payable 50% in USDC within seven days and the remainder in EDGE tokens calculated at a seven-day time-weighted average price.
In an effort to restore trust, edgeX requested information from CEXs and institutional liquidity providers to investigate the event. The edgeX team reiterated that it did not sell its allocations nor did it have any involvement in the attack, ensuring that the protocol continued to operate normally with no risk to user funds. As an immediate security measure, the platform incorporated additional market makers to deepen EDGE liquidity both on-chain and off-chain.
Source: https://x.com/edgeX_exchange/status/2062179411903029716
Disclaimer: Crypto Economy Flash News is prepared based on official and public sources verified by our editorial team. Its purpose is to quickly inform about relevant facts in the crypto and blockchain ecosystem. This information does not constitute financial advice or investment recommendations. We always recommend verifying the official channels of each project before making related decisions.
