Multiple cryptocurrencies associated with Wonderland have plunged after alleged links to Michael Patryn, the co-founder of the outlawed QuadrigaCX.
Wonderland’s native token, TIME, has lost its market share from $511.8 million to $352.6 million in the past day.
SPELL, Abracadabra Money, has also witnessed a drop in market capitalization from $645.2 million to $495.4 million in the past 24 hours.
A token linked to Popsicle Finance, ICE, lost market value from $98.9 million to $57.4 million following the sell-off.
The cryptocurrencies, based on the OlympusDAO, are closely valued with market capitalization instead of their prices because of the rebasing technique that increases their amount and distribution to holders.
Wonderland protocol was introduced in September 2021 by a team led by Daniele Sestagalli as a fork of OlompusDAO.
The network’s community, dubbed the Frog Nation comprises Abracadabra, Popsicle Finance, and SushiSwap decentralized exchange.
Source: The Block