Over the past 24 hours TAC experienced a sharp price decline. We know many of you are holding losses today. We take that seriously, and you deserve a direct explanation.

1. No exploit. TAC was not hacked in any form. The protocol operates exactly as designed. All on-chain assets are safe.

2. No insider selling. Neither the team nor early backers contributed to the selling pressure. Team and investor tokens remain fully locked and vested. Unlocks have not begun and are technically impossible at this stage.

3. What happened. We completed an internal review of trading activity, both on-chain and using data available to us from centralized venues. There was no minting of tokens and no malicious activity. The decline was a liquidation cascade triggered initially by a large perpetual futures sell order exceeding the relatively thin liquidity on the market. That in turn resulted in a cascade of liquidations on the perp market as well as sell pressure on spot venues. We continue to monitor trading activity closely.

4. What’s next. The team is fully committed to building. We are finalizing a set of measures focused on strengthening market structure, deepening liquidity, and rebuilding confidence with our community, partners, and investors. We will share the concrete details later this month.

Price moved. Fundamentals did not. We build for the long term.