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Multiple Network has replaced its compromised $MTP token and is starting a new $1 Million buyback program.
Author: Sahil Thakur
Published On: Mon, 29 Sep 2025 07:06:35 GMT
29th September 2025 โ Multiple Network has replaced its compromised $MTP token. The project launched a new contract and began a $1 million buyback program after a market maker unlocked and dumped tokens without permission.
On September 23, the team confirmed that a third-party market maker had broken lock-up terms. The market maker unlocked vested tokens and sold them on the open market. This led to a sharp price drop, from $0.0456 to $0.0021.
To limit damage, the team halted trading and advised users to avoid on-chain swaps. They flagged the token supply as contaminated.
On September 29, at 2:00 AM UTC, Multiple took a snapshot of balances. It then deployed a new BEP-20 contract on BNB Chain. Verified holders received a 1:1 token airdrop automatically. Major exchanges, including Binance Alpha, resumed trading soon after.
To support the tokenโs recovery, Multiple pledged to buy back at least $1 million worth of MTP over 12 months. In the first six months, it will buy between $50,000 and $100,000 worth monthly. The second half will scale based on market conditions.
The project is also pursuing legal action against the market maker. It plans to use any recovered funds for additional buybacks. Legal proceedings have reached a critical stage, and updates will follow.
Most holders received the new MTP automatically. However, some on-chain users may have missed the airdrop. These holders can submit a form to claim their tokens manually.
Only original MTP holders are eligible. The snapshot from September 29 determines eligibility. No new tokens have been minted outside the swap.
<<-multiple-network->>
After the announcement, MTP trading volume rose 250% to over $98 million. Prices stabilized between $0.0021 and $0.0034. Market cap moved into the $2 million to $3.4 million range.
Multiple Network is a DePIN project focused on AI privacy infrastructure. It uses P2P and SD-WAN to support fast and secure data transfer. This setup helps speed up AI model training and inference while improving security.
The project raised $2 million in seed funding at a $30 million valuation. It is now raising $6 million in Series A. Investors include OKX Ventures, Youbi Capital, and 071 Labs.
With the token swap complete and the buyback underway, the team aims to rebuild trust and stabilize its ecosystem.
Real voices. Real reactions.
Locked in my cost on $MTP, now riding with pure profit ๐น (Not financial advice) https://t.co/SmNt4k0g2H https://t.co/NmnGNeneHK
๐ข๐๐ฎ๐ฅ๐ญ๐ข๐ฉ๐ฅ๐ ๐๐๐ญ๐ฐ๐จ๐ซ๐คโโโ๐๐๐๐ข๐๐ข๐๐ฅ ๐๐จ๐ค๐๐ง ๐๐ฐ๐๐ฉ & ๐๐ฎ๐ฒ๐๐๐๐ค ๐๐ฅ๐๐ง ๐๐จ๐ซ $๐๐๐ The original $MTP token was compromised after a third-party market maker unlocked and dumped tokens, polluting the supply. To protect the community and ensure https://t.co/3soF3CfISk
@MTP_Network I bought in binace exchange in alpha section after 2AM UTC so can I get refund?
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