Sahara AI Denies Safety Points as Token Value Drops Over 60%

The group stated that buyers and treasury allocations haven’t been touched, sharing on-chain information for group verification.

Sahara AI’s SAHARA token crashed by roughly 60% on June 9, triggering over $23 million in liquidations.

The incident precipitated hypothesis throughout crypto markets, particularly because it occurred proper across the time one other protocol, Humanity, reported a breach that value it $30 million and led to its native H token dropping practically 90% of its worth.

What the Crew Stated, And What On-Chain Information Exhibits

After SAHARA all of a sudden plunged from round $0.034 to $0.014, per CoinGecko knowledge, the group put out a put up on X saying they had been “conscious of surprising market volatility” and that that they had discovered no safety points within the platform’s token contracts or merchandise. Moreover, they stated they would supply extra updates as extra info turns into obtainable following an inside investigation.

Nevertheless, after some on-chain observers questioned a switch of 600 million SAHARA tokens, suggesting it might have precipitated the weird value motion, the group needed to make a follow-up put up explaining that the big token switch was a pre-planned fill of a Chainlink CCIP bridge contract finished to supply liquidity for its lately launched cross-chain bridge.

Simply as importantly, they acknowledged that group and investor pockets allocations had not been touched on-chain and that “no group and investor tokens have been offered or moved.”

The group additionally offered a hyperlink to an Etherscan handle in order that these may confirm that what they had been saying was true, including that they had been nonetheless investigating the precise reason behind the market motion individually from the bridge switch.

Whether or not that clarification holds as much as group scrutiny is one other query. Information from CoinGlass reveals that within the final 12 hours, $22.9 million in lengthy positions had been liquidated towards solely $354,000 in shorts, which means that the overwhelming majority of losses fell on merchants who had been betting on the value going up.

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Sahara Down 90% From its Peak

The SAHARA token bought listed on Binance in June 2025, and went on to hit an all-time excessive of $0.1605 the next month. However on the time of writing, it was buying and selling virtually 90% under that all-time excessive and was down over 50% within the final seven days and virtually 54% over the previous month.

The misfortune that hit it occurred only a week after EDGE, the native token of the edgeX decentralized alternate, all of a sudden dropped by 71% and hit a brand new all-time low. And similar to the Sahara group has finished, 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 among the centralized exchanges the place EDGE is listed blamed the token’s collapse partly on skinny liquidity circumstances and never large-scale promoting by the group.