Stablecoin Plunges 98% in 24 Hours, Sparks Rug Pull Allegations

Early on Oct. 26, the U.S. dollar value of Essence Finance's decentralized stablecoin, CHI, plunged by more than 90% after rumors emerged that more than $20 million of collateral had been removed.

Oct 26, 2024 - 11:00
Stablecoin Plunges 98% in 24 Hours, Sparks Rug Pull Allegations
StablecoinEarly on Oct. 26, the U.S. dollar value of Essence Finance's decentralized stablecoin, CHI, plunged by more than 90% after rumors emerged that more than $20 million of collateral had been removed.

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