Axis Robotics: The team and investors have not sold AXIS, recent sell-offs are suspected to involve OTC trading counterparties

Axis Robotics issued a statement regarding the massive sell-off of AXIS tokens from October 28 to 29, stating that no team or investor tokens were sold. The team, investors, and other locked allocations total 835 million AXIS, accounting for 83.5% of the total supply, and remain in a custody contract co-managed with Binance, with no tokens transferred out, and they will not be unlocked before the end of the 12-month lock-up period.

The project party stated that the tokens sold this time came from a portion of the ecological allocation in the initial circulating supply, which was originally delivered through a single over-the-counter (OTC) trading counterparty, and the relevant written agreement includes lock-up terms. The project party believes that the trading model indicates that this counterparty may sell the tokens on the open market, which, if true, would violate the agreement. They have currently suspended further transactions with this counterparty and are reviewing the agreement with legal counsel to seek remedies; the remaining ecological tokens will only be distributed through on-chain custody mechanisms in the future.

ChainCatcher previously reported that, according to on-chain detective ZachXBT, insiders from Axis Robotics (AXIS) obtained over 76 million AXIS tokens (worth over 12 million USD) from a multi-signature wallet, which were then sold off through a DEX, with some tokens transferred to Bitget exchange. As a result, the AXIS price plummeted by 40% in the past 24 hours.

One insider sold 42 million AXIS tokens and currently holds over 5.04 million USDC across their 8 wallet addresses.