IKA Token’s 900% Surge and Crash Triggers $129M Liquidations and Bad Debt on Suilend, Asian Users Hit Hard
- $IKA spiked +900% on Sept 8 from $0.04 to $0.40, then crashed back to $0.04.
- Triggered massive short squeeze & $129.6M liquidations across @suilendprotocol, Navi, @AlphaLendSui.
- Suilend imposed a 6% haircut on depositors to cover ~$6M bad debt.
- Asian users hit hardest, with 268 victims losing $45M worth of IKA.
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