End-of-year chaos in the crypto world indeed comes one after another. First, project teams were exposed for behind-the-scenes manipulation, and then FLOW caused a major stir — directly staging a classic scapegoating drama.

Here's what happened: FLOW was exploited by hackers through technical vulnerabilities, secretly issuing a large wave of tokens, of which 800 million have already flowed into major trading platforms, being bought and sold by retail investors in countless rounds. The only way to restore the total token supply to normal is for the project team to buy back and burn the tokens with their own funds. But this hit a snag — who will pay for it?

Both sides started blaming each other: the FLOW team said it was a platform issue, "Why didn't you tighten risk controls to prevent hackers from mixing stolen tokens into circulation?" then added, "We really don't have the money to buy back." The trading platforms responded directly, retorting, "You got hacked because of your poor technical security; you should clean up your mess yourself." They even issued an ultimatum — if the buyback and burn aren't completed by the 14th, FLOW will be delisted.

The most astonishing part is that, in response to these urgings, the FLOW team remained silent — completely ignoring the situation, as if they had gone offline. Now the problem is: neither side is taking proactive steps to resolve it, and in the end, isn't it retail investors who have to bear the consequences? Token devaluation, liquidity risks, trapped chips... this is a true reflection of the crypto market. From technical vulnerabilities to governance failures, the entire chain has issues.