{"id":11973,"date":"2025-09-29T03:46:11","date_gmt":"2025-09-29T03:46:11","guid":{"rendered":"https:\/\/bitunikey.com\/news\/multiple-network-launches-mtp-swap-1m-buyback-plan-after-market-maker-dump\/"},"modified":"2025-09-29T03:46:14","modified_gmt":"2025-09-29T03:46:14","slug":"multiple-network-launches-mtp-swap-1m-buyback-plan-after-market-maker-dump","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/multiple-network-launches-mtp-swap-1m-buyback-plan-after-market-maker-dump\/","title":{"rendered":"Multiple Network launches MTP swap, $1M buyback plan after market maker dump"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Multiple Network will replace its compromised MTP token and commit to a year-long buyback program after a third-party market maker unlocked and dumped tokens without authorization.<\/p>\n<div id=\"cn-block-summary-block_b933c728114a150438e760dea8531e53\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>MTP compromised by unauthorized market maker unlocks.<\/li>\n<li>New token contract launched with 1:1 swap.<\/li>\n<li>$1M buyback plan and legal recovery underway.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>The incident, which polluted the token supply and drove sharp price declines, prompted the team to initiate an emergency swap and legal recovery measures.<\/p>\n<p>According to the project\u2019s Sept. 29 <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/medium.com\/@Multiple_Network\/multiple-network-official-token-swap-buyback-plan-for-mtp-8c08ba535384\" target=\"_blank\" rel=\"nofollow\">announcement<\/a>, trading was suspended at 2:00 AM UTC for a snapshot of balances. With the deployment of a new BEP-20 contract on BNB (BNB) Chain, MTP tokens are automatically allocated to verified on-chain and exchange holders in a 1:1 ratio. <\/p>\n<p>The new MTP\u2019s trading, withdrawals, and deposits have all resumed, as per exchanges like Binance.<\/p>\n<h2 class=\"wp-block-heading\">Buyback plan and legal action<\/h2>\n<p>To restore confidence, the team committed to repurchasing at least $1 million worth of MTP within 12 months. Between $50,000 and $100,000 will be bought back monthly during the first six months, with the scale for months seven to twelve determined by market conditions.\u00a0<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udce2\ud835\udc0c\ud835\udc2e\ud835\udc25\ud835\udc2d\ud835\udc22\ud835\udc29\ud835\udc25\ud835\udc1e \ud835\udc0d\ud835\udc1e\ud835\udc2d\ud835\udc30\ud835\udc28\ud835\udc2b\ud835\udc24\u200a\u2014\u200a\ud835\udc0e\ud835\udc1f\ud835\udc1f\ud835\udc22\ud835\udc1c\ud835\udc22\ud835\udc1a\ud835\udc25 \ud835\udc13\ud835\udc28\ud835\udc24\ud835\udc1e\ud835\udc27 \ud835\udc12\ud835\udc30\ud835\udc1a\ud835\udc29 &amp; \ud835\udc01\ud835\udc2e\ud835\udc32\ud835\udc1b\ud835\udc1a\ud835\udc1c\ud835\udc24 \ud835\udc0f\ud835\udc25\ud835\udc1a\ud835\udc27 \ud835\udc1f\ud835\udc28\ud835\udc2b $\ud835\udc0c\ud835\udc13\ud835\udc0f<\/p>\n<p>The original <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24MTP&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">$MTP<\/a> token was compromised after a third-party market maker unlocked and dumped tokens, polluting the supply.<\/p>\n<p>To protect the community and ensure\u2026 <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/3soF3CfISk\">pic.twitter.com\/3soF3CfISk<\/a><\/p>\n<p>\u2014 Multiple Network (@MTP_Network) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/MTP_Network\/status\/1972474648010117320?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">September 29, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>In addition, all funds recovered through legal action against the market maker will be used for further buybacks. The team noted that judicial proceedings have reached a critical stage and updates will follow once disclosure is permitted.<\/p>\n<h2 class=\"wp-block-heading\">Timeline of the crisis<\/h2>\n<p>The breach surfaced on Sept. 23 when community managers confirmed that a market maker violated lock-up terms, leading to unauthorized token dumps. Price dropped as low as $0.002101, with market cap sliding significantly. By Sept. 27, the team advised traders to use exchanges instead of on-chain markets due to contaminated supply.\u00a0<\/p>\n<p>Multiple Network, a DePIN project focused on Web3 privacy acceleration for AI, had launched MTP in August with an initial listing on Binance Alpha. The token briefly reached $0.0456 but later fell more than 40% amid sell pressure and the breach. The swap and buyback plan aim to stabilize the ecosystem and protect legitimate holders going forward.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Multiple Network will replace its compromised MTP token and commit to a year-long buyback program after a third-party market maker unlocked and dumped tokens without authorization. Summary MTP compromised by&hellip;<\/p>\n","protected":false},"author":1,"featured_media":7501,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11973","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/11973","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=11973"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/11973\/revisions"}],"predecessor-version":[{"id":11974,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/11973\/revisions\/11974"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/7501"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=11973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=11973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=11973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}