Sahara AI dismisses security concerns as token price drops more than 60%

The group stated that investors and treasury allocations were not affected, sharing on-chain records for community verification.

Sahara’s AI SAHARA token plunged nearly 60 percent on June 9, resulting in over $23 million in outflows.

The incident caused speculation in the crypto markets, especially after another protocol reported a breach that cost Humanity $30 million and caused its native H token to lose nearly 90 percent of its value.

What the group said and the information on the chain shows

After SAHARA suddenly dropped from $0.034 to $0.014, according to CoinGecko, the group posted on X that they were “aware of unusual market dynamics” and that they had not found any security issues with the platform’s token contracts or products. They also said they will provide further updates as more information becomes available following an internal investigation.

However, after some on-chain observers questioned the transfer of 600 million Sahara Tokens, the group had to post a follow-up post saying that the unusual price movement may have been caused by the large token transfer, which was planned to provide liquidity for the recently launched cross-chain bridge, Chainlink’s CCIP bridge contract.

Just as importantly, he added that team and investor wallet allocations were not affected by the chain and “team and investor tokens were not sold or moved.”

The group provided a link to the EtherScan address so that interested parties could verify what they were saying, but said they were still investigating market activity separately from the bridge transfer.

Whether that explanation holds up to public scrutiny is another question. Data from CoinGlass shows that over the past 12 hours, $22.9 million in long positions were reversed against $354,000 in shorts, meaning most of the losses fell on bullish traders.

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Sahara has decreased by 90%

The SAHARA token was listed on Binance in June 2025 and reached an all-time high of $0.1605 the following month. But at the time of writing, it was trading nearly 90% below its all-time high and has fallen more than 50% over the past seven days and is down about 54% over the past month.

The unfortunate incident occurred a week after EDGE, the parent of the EdgeX decentralized exchange, suddenly plunged by 71% and hit a new all-time low. And just like the Sahara team, the people behind EdgeX have denied any security breach and pointed to external exploits in their case, which on-chain researcher ZachXBT has publicly disputed.

In a follow-up report, EdgeX pointed out that some of the centralized exchanges where EDGE was listed led to the collapse of the token, partly due to thin liquidity conditions and not large-scale selling by the group.