A Vietnamese play-to-earn game called CryptoBike became popular shortly after its December 25 launch, soaring to around $41.6 million in daily trading volume. However, on January 1, the CryptoBike token CB suddenly plunged in value from $0.81 to $0.019 as 6 million CB were sold, apparently by the project’s development team. The team also reportedly blocked people from commenting on the incident in the project’s Telegram channel, and took down the project’s website.

Total loss estimated at $1,400,000.