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Kava clarifies abnormal cross-chain token sell-off: not infinite minting, already isolated within Kava Lend.

BlockBeats news, November 14 - Kava officially announced that it has noticed abnormal activity on the chain involving cross-chain transfers of KAVA tokens to BSC and subsequent selling. The official statement clarified that this incident is not infinite minting, but was isolated and limited to the Kava Lend protocol, and the overall situation is under control. Currently, partner trading platforms have suspended related deposit and withdrawal functions as a routine precautionary measure. Kava stated it will provide more detailed information as soon as possible.

Earlier news, according to HTX market information, KAVA dropped over 40% in one hour, suspected of an on-chain security issue.

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KAVA has dropped over 40% in the past hour, with suspicions of an on-chain security issue.

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