PANews
PANews|Nov 20, 2025 14:09
[Nillion: An unauthorized sale of NIL tokens by a market maker, measures being taken to hold accountable] Blind computing network Nillion posted on the X platform: 'It has been confirmed that a market maker sold NIL tokens without obtaining legal authorization from the Nillion Association. Subsequently, during and after the flash crash sell-off, the market maker refused to respond to any communication from the team. Nillion is taking immediate action, and the Nillion Association has begun utilizing its reserve funds to repurchase the sold tokens. Nillion also promises to use all funds recovered from the unauthorized sale of tokens by the market maker to repurchase more NIL tokens. Nillion stated that it is actively pursuing legal accountability and is working with exchange partners to ensure that all accounts and wallets related to this incident have been frozen.' Earlier today, it was reported that the Nillion token experienced a drop of over 60% at one point.
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