Kava says abnormal KAVA cross-chain transfers and selling are under control

Kava said it detected abnormal on-chain activity involving transfers of KAVA to BNB Chain followed by selling, according to an official statement. Kava said the incident was not caused by unlimited token minting and that the impact was limited to the Kava Lend protocol. The situation is now under control, it added. Partner exchanges have temporarily suspended related deposits and withdrawals as a precaution, and Kava said it plans to disclose further details later.