In the PAID Network, one of the decentralized finance (DeFi) projects, approximately 60 million tokens were created from scratch using the token printing feature of the contract and sold on Uniswap. This amount is exactly 3 times the current circulating supply of the project.
While there is no explanation from the Paid Network team yet, the price of PAID fell sharply as a result of this transaction. In Uniswap, the price dropped 85 percent from $ 2.86 to $ 0.43 and is trading at this level as of 22.00 BST when the news was published.
Recently, another DeFi project, Furucombo , lost $ 14 million in funding as a result of a security breach, and the price fell by about 60 percent.