Layer2 project Matic plunged 70% in a short time, the project party recently transferred 160 million tokens out of the foundation

Binatic Launchpad project Matic Network dropped abnormally on the morning of December 10, and its token plummeted from USD 0.04 to USD 0.015 between 8.30-9: 30, a drop of more than 70%. Prior to this, a large number of tokens were transferred out of the contract address of the Matic Foundation. According to Etherscan data, the project party transferred a total of 160 million MATIC tokens from the foundation contract within the last 30 days, some of which were charged Binance trading platform.