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ATOM Plunges 6% as North Korea Links Trigger Security Concerns
Cosmos token faces significant selling pressure amid geopolitical tensions and broader market uncertainty.
Jun 17, 2025, 3:00 p.m. 1 min read
What to know:
- Former Cosmos developer with North Korea links prompts security overhaul at Interchain Labs, with audits showing no current vulnerabilities in ATOM's codebase.
- ATOM experienced a significant downward trend over 24 hours, falling from $4.276 to $4.086, representing a 5.52% decline.
- Overall momentum remains bearish with lower highs forming across multiple timeframes.
The discovery of a North Korea-linked developer who contributed to Cosmos code between 2022-2024 has triggered enhanced security measures, while major exchanges expand staking options for ATOM holders despite market pressure.
ATOM is currently trading at $4.086 after losing 5.52% of its value over the past 24 hours.
Technical analysis
- A sharp sell-off occurred during 22:00-23:00 hours on June 16th with exceptionally high volume (1.4M+), establishing resistance at $4.29.
- Support emerged around $4.06-$4.07 with increasing volume, suggesting potential stabilization.
- Overall momentum remains bearish with lower highs forming across multiple timeframes.
- A notable recovery occurred in the last hour, climbing from $4.077 to $4.084 (0.17% increase).
- Significant bullish momentum between 13:24-13:30 saw ATOM surge from $4.076 to $4.096 on elevated volume.
- The hourly close at $4.084 suggests stabilization above the $4.07 support level.
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What to know:
- Down sharply earlier Saturday, bitcoin moved to gains on the day after President Trump announced a peace agreement with Iran and other Middle Eastern countries.
- As part of the deal, Trump said, the Strait of Hormuz will be reopened.
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