River: The recent sharp fluctuations in RIVER prices are due to a planned attack, and the points redemption has been suspended while the mechanism is being upgraded

The stablecoin protocol River stated on the X platform that over the past few days, the price of RIVER has experienced extreme volatility. This event is not an ordinary market fluctuation. It is an organized and premeditated attack aimed directly at the River ecosystem and its River Points (Pts) redemption mechanism.

Malicious short sellers have implemented coordinated market manipulation on $RIVER through large short positions and concentrated redemptions of River Points. To prevent a systemic collapse, the team temporarily suspended point redemptions and executed a market buyback operation. After the redemption was suspended, the attackers quickly closed their short positions. We are upgrading the mechanism, making data public, and will hold an AMA event to share our follow-up plans with everyone.