FLOW's recent sharp decline indeed exceeded expectations. Dropping from $0.173 all the way down to $0.079, the decline easily surpassed 53%, with a total drop of over 99% since its all-time high.

The most immediate trigger was the announcement that the ecosystem's most important infrastructure, Blocto Wallet, would cease operations. This wallet once supported 2 million users but suffered a cumulative loss of $5.5 million due to the project's ongoing downturn, and was officially shut down on December 18.

What is even more concerning is the subsequent response. The official statement was simply that they are "investigating a cybersecurity incident," but the reaction in the Korean market was very straightforward— the country's largest exchange, Upbit, immediately suspended deposits and withdrawals and issued a risk warning. The second-largest exchange, Bithumb, also followed suit by halting trading services.

This is not just a matter of price volatility. The paralysis of core infrastructure combined with collective warnings from exchanges suggests that this series of events may have already impacted the project's fundamental health.