Polyhedra Network Boosts ZKJ Token Buyback After 80% Price Crash

Polyhedra Network, the developer behind the zero-knowledge interoperability protocol zkBridge, has announced plans to increase its buyback of ZKJ tokens following a significant financial attack. The attack, which occurred on June 16, 2025, resulted in an 80% crash of the ZKJ token's price, dropping from approximately $2 to 30 cents within hours. This dramatic decline was attributed to a liquidity attack, which Polyhedra's co-founder, Tiancheng Xie, described as a targeted financial assault aimed at destabilizing the token's value.

In response to the attack, Polyhedra has initiated a buyback strategy to stabilize the ZKJ token's price and mitigate the impact of the financial assault. The company aims to purchase its tokens from the open market, thereby reducing the circulating supply and potentially increasing the token's value. This move is part of a broader effort to regain investor trust and prevent future financial attacks.

The buyback strategy is seen as a proactive measure to address the recent volatility and restore confidence in the ZKJ token. By reducing the supply of tokens on the market, Polyhedra hopes to create a more stable environment for investors and traders. The company's co-founder has emphasized the importance of preventing future financial attacks and has pledged to continue buying back tokens as part of this effort.

The financial attack on ZKJ has raised concerns about the security and stability of cryptocurrencies, particularly those that rely on decentralized protocols. Polyhedra's response, however, demonstrates a commitment to protecting its investors and maintaining the integrity of its token. The company's buyback strategy is a clear indication of its dedication to addressing the challenges posed by financial attacks and ensuring the long-term success of the ZKJ token.

The impact of the financial attack on ZKJ has been significant, with the token's price plummeting to an all-time low of around $0.3073. Despite this, there is optimism among investors that the token can recover, particularly if Polyhedra's buyback strategy is successful. The company's efforts to stabilize the token's price and prevent future attacks are seen as crucial steps in this recovery process.

The buyback strategy is part of a broader effort by Polyhedra to address the challenges posed by financial attacks and ensure the long-term success of the ZKJ token. The company's commitment to protecting its investors and maintaining the integrity of its token is a testament to its dedication to the cryptocurrency community. As the market continues to evolve, Polyhedra's response to the financial attack on ZKJ serves as a reminder of the importance of security and stability in the world of decentralized finance.