ZKX investors, market makers say they were blindsided by sudden shutdown | Headlines | News | CoinMarketCap

08/04/2024 06:12
ZKX investors, market makers say they were blindsided by sudden shutdown | Headlines | News | CoinMarketCap

Investors in the recently-shuttered Starknet-based decentralized exchange ZKX were apparently caught off guard by the protocol's closure, their X …

Investors in the recently-shuttered Starknet-based decentralized exchange ZKX were apparently caught off guard by the protocol's closure, their X posts indicate. 

ZKX's millions in VC funding, alongside its token generation event which took place just weeks ago, had blockchain sleuth ZachXBT, among others, alleging that the project may constitute a rug pull, while founder Eduard Jubany Tur defended the shutdown, stating the project simply didn't make economic sense to continue. 

"There’s no denying the TGE didn’t meet expectations, and the resulting losses have contributed to our current situation. As major token holders exercise their right to cash out, the token’s value has continued to decline," Tur stated in his initial announcement post. "Pre-announcing the closure would …

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