System Error and DDoS Attack

Almanak announced that an operational error and a DDoS attack on December 12 caused delays in their token airdrop, affecting wallet creation and leading to market impacts.

The incident led to an 80% drop in the Almanak token price, highlighting vulnerabilities in decentralized finance systems and prompting user concerns over security.

Almanak Faces Airdrop Delays Amid Operational Setbacks

Market reactions included a significant drop in the Almanak token price, which fell by approximately 80% within 24 hours of the disruption. CoinGecko data confirmed the price decline, with the tokens now trading around $0.034. There were no official statements from leadership, leaving a void in communication during the incident.

Almanak (ALMANAK) has experienced a dramatic 77.09% decrease in value over the last 24 hours, according to CoinMarketCap. The token is now priced at $0.03, with a trading volume surge of 96,807.62% in 24 hours, despite having no circulating supply and a max supply of 1,000,000,000.

80% Drop in Token Value Highlights DeFi Vulnerabilities

Did you know? The Almanak token’s sharp 80% drop is one of the largest single-day declines for tokens of its size, showcasing the immediate impact operational issues can have on decentralized finance projects.

Experts from Coincu indicate that these disruptions might necessitate a reevaluation of security protocols and operational transparency for projects of Almanak’s scale. Such challenges underscore the persistent risks in DeFi platforms and highlight the need for robust security measures and effective communication to maintain investor confidence.

Experts from Coincu indicate that these disruptions might necessitate a reevaluation of security protocols and operational transparency for projects of Almanak’s scale. Such challenges underscore the persistent risks in DeFi platforms and highlight the need for robust security measures and effective communication to maintain investor confidence.