The native token of cross-chain bridge Synapse, plummeted by nearly 25% to just over $0.30 after an unnamed liquidity provider sold millions of tokens. The sell-off prompted Synapse Labs, the primary contributor to the cross-chain bridge, to investigate unusual activity on the seller's wallets. Despite the sharp decline in price, the company confirmed that there was no security breach of the protocol or bridge. The identity of the seller remains unconfirmed, and Synapse Labs is working to get in touch with them.
