CYPR token plummets 88% after Nium acquires Cypher

The native token of crypto wallet app Cypher, CYPR, has plummeted 88% in one day following the app's acquisition by global payment infrastructure firm Nium, according to crypto card expert Nikita (@0xVishnya) on X. Nikita noted that the Cypher ecosystem will be phased out by Sept. 6, but there will be no compensation or buyback for CYPR holders. Locked tokens will remain locked under their original conditions. The founder and team are moving to Nium, with the founder set to become the vice president of crypto. While CYPR holders have called the move a scam, the Cypher team maintains it is an acquisition, Nikita added.