Sahara AI Denies Security Issues as Token Price Drops Over 60%
Sahara AI’s SAHARA token crashed by roughly 60% on June 9, triggering over $23 million in liquidations.
The incident brought about hypothesis throughout crypto markets, particularly because it occurred proper across the time one other protocol, Humanity, reported a breach that price it $30 million and led to its native H token losing almost 90% of its worth.
What the Team Said, And What On-Chain Data Shows
After SAHARA out of the blue plunged from round $0.034 to $0.014, per CoinGecko knowledge, the staff put out a submit on X saying they have been “conscious of bizarre market volatility” and that that they had discovered no safety points within the platform’s token contracts or merchandise. Further, they stated they would supply extra updates as further data turns into accessible following an inside investigation.
However, after some on-chain observers questioned a switch of 600 million SAHARA tokens, suggesting it might have brought about the weird worth motion, the staff needed to make a follow-up submit explaining that the big token switch was a pre-planned fill of a Chainlink CCIP bridge contract executed to supply liquidity for its lately launched cross-chain bridge.
Just as importantly, they acknowledged that staff and investor pockets allocations had not been touched on-chain and that “no staff and investor tokens have been offered or moved.”
The staff additionally supplied a hyperlink to an Etherscan handle in order that these may confirm that what they have been saying was true, including that they have been nonetheless investigating the precise reason for the market motion individually from the bridge switch.
Whether that rationalization holds as much as group scrutiny is one other query. Data from CoinGlass reveals that within the final 12 hours, $22.9 million in lengthy positions have been liquidated in opposition to solely $354,000 in shorts, that means that the overwhelming majority of losses fell on merchants who had been betting on the value going up.
Sahara Down 90% From its Peak
The SAHARA token received listed on Binance in June 2025, and went on to hit an all-time high of $0.1605 the next month. But on the time of writing, it was buying and selling nearly 90% beneath that all-time high and was down over 50% within the final seven days and nearly 54% over the previous month.
The misfortune that hit it occurred only a week after EDGE, the native token of the edgeX decentralized trade, out of the blue dropped by 71% and hit a brand new all-time low. And similar to the Sahara staff has executed, the individuals behind edgeX additionally denied any safety breach and, of their case, pointed to exterior manipulation, a declare that on-chain investigator ZachXBT publicly disputed.
In a subsequent report, edgeX noted that a few of the centralized exchanges the place EDGE is listed blamed the token’s collapse partly on skinny liquidity situations and never large-scale promoting by the staff.
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