TAC Official Responds to Price Crash: Team and Early Investors Did Not Participate in Selling Off

TAC released a statement addressing its sharp price drop over the past 24 hours, confirming the protocol was not hacked, on-chain assets remain secure, and the system is operating normally. The team and early investors did not engage in selling, as relevant tokens are still in lock-up and vesting periods with no unlock possibility at this stage. TAC added that an internal review of on-chain and centralized exchange trading data found no token minting or malicious behavior. The recent decline was primarily triggered by a large perpetual contract sell order amid thin market liquidity, which sparked a chain of liquidations in the perpetual contract market and spilled selling pressure over to the spot market. The team said it is drafting measures to strengthen market structure, boost liquidity, and restore market confidence, with specific plans to be unveiled later this month. Earlier, TAC Protocol (TAC) experienced an extreme market swing in the early hours of yesterday, plunging 90% within 15 minutes.