90% fall of the game token price of Defy Kingdoms following the discovery of an important vulnerability

DeFi Kingdoms is an over-hyped blockchain game. Following the discovery of a vulnerability in this game that allowed users to release their locked tokens faster, the game’s token called JEWEL lost 90% of its value.

According to CryptoBriefing, the price of the Jewel token dropped by more than 90% after users lost their initial interest in the game. A vulnerability that allowed users to mine Jewel tokens from multiple accounts has been identified as the main cause of the price crash.

The Fall of Defy Kingdoms

Once again, one of the profitable games has faced the problem of game economy disruption and is trying to balance its economy.

The DeFi Kingdoms project token named Jewel has lost almost 90% of its value compared to its highest price in January. The incalculable rewards that are given to the players in this game based on the Jewel Token, now that there is no news of the influx of new players, has caused pressure to sell the Jewel Token in the markets.

In addition, the discovery of a new vulnerability that will allow players to unlock their locked tokens early has also affected the price of Jewel. According to Frisky Fox, the developer of Defy Kingdoms, users have discovered that they are able to unfairly increase their mining rate by transferring locked gems between multiple accounts. This vulnerability allows more heroes in the game to mine locked gems at the same time.

The amount of tokens that have entered the game due to this vulnerability is much lower compared to legally mined jewels; However, the price of the Jewel token has been greatly affected by this incident. Over the past night, Jewel has dropped by 21% and reached its lowest price of $2.55. It was only 4 months ago that Jewel was trading at its historical high of $22.25. Although an update to address the vulnerability is expected to be released later today, Jewel’s price chart shows no signs of abating its months-long downtrend.

According to DappRadar data, over the past month the number of active players of Defy Kingdoms has halved, from 30,000 on March 31 (11 April) to almost 15,000 people now. The number and volume of transactions has also decreased in the same way. This situation is not unique to Defy Kingdoms. Several other blockchain games such as Axie Infinity and Crabada have also faced a sharp decrease in users and activity in recent months.

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In its heyday, Defy Kingdoms was considered one of the most established blockchain games. Digital currency influencers such as Ansem regularly praised the game and its growth. While the expansion of the Crystalvale realm increased the hype surrounding Defy Kingdoms, however, with a dedicated development team as well as the game’s recent launch on the Olunch subnet, the game’s token is performing well in the current declining cryptocurrency market. It has not been good. It is not yet clear whether the game will be able to attract its lost users again in the future.