AI Token NetMind Tanks After Early Miner Suffers Hack

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NMT plummeted as much as 75% before recovering after the team assured the community that the project was not compromised.

AI token NetMind plummeted earlier today after a wallet belonging to an early-stage miner sold large amounts of NMT.

“The NetMind team is aware of the recent situation that has caused a mass selloff of NMT and is actively working on mitigation,” wrote the team today on ‘X,’ pointing to an early miner who mined 440,000 NMT.

NetMind’s team added that they “do not see a long-term risk here” and that the platform itself is not compromised.

The NMT token briefly traded under $4 before rebounding on the team’s statement. It is currently down 30% on the day, trading at a fully diluted valuation of $1 billion.