1inch Denies Involvement in $14M 1INCH Token Sale After Price Crash
The 1inch team released an official statement on X on Jan. 28 denying any involvement in the sale of 14 million 1INCH tokens, a sell-off that drove the token to an all-time low on Tuesday, Jan. 27. The announcement rejects suggestions that the project or its operators orchestrated the $14 million dump, a move that triggered sharp price volatility and alarm among holders and traders.
As a prominent DeFi aggregator, 1inch’s distancing matters for market confidence: unexplained large sales can quickly erode trust in token distribution, vesting practices and liquidity stability. The episode is likely to prompt closer scrutiny from on-chain observers, exchanges and market participants seeking clearer disclosure and stronger safeguards to limit the impact of future abrupt dumps on tokenholders and the broader DeFi ecosystem.