Polyhedra Launches Buyback Efforts After ZKJ Destabilization
Polyhedra has initiated a series of token buybacks following ZKJ’s catastrophic decline of over 80%. This drop occurred due to large-scale sell-offs combined with coordinated liquidity withdrawals on PancakeSwap. A wallet associated with Wintermute transferred 3.3 million ZKJ tokens to centralized exchanges during this downturn. Concurrently, another wallet extracted $4.3 million from liquidity and liquidated tokens in rapid succession. These actions are driving Polyhedra’s response as the company seeks to stabilize the situation and regain investor confidence.