Yooldo Issues Statement on ESPORTS Token Price Drop on May 25

Yooldo said it has released an official statement regarding a sharp decline in the ESPORTS token price on May 25, saying the incident was not initiated, led, or intended by the ESPORTS team. According to Odaily, the team said it remains focused on building a healthy ecosystem and creating long-term value for the community. Yooldo said the ESPORTS team previously brought in external OTC and market-making partners to support liquidity and ecosystem development. An investigation found that one partner engaged in activities that did not match the team’s agreement. Based on available information, the team said the large-scale selling originated from tokens previously provided to that partner. It added that tracing the full flow of funds is difficult because transactions moved through multiple wallets, counterparties, and exchanges. Yooldo said the ESPORTS team did not implement, coordinate, or instruct any market-selling activity intended to cause the price decline. After identifying the issue, the team said it worked with exchanges and relevant parties to investigate and to limit further damage. The statement said the team has begun recovery measures, including liquidity support and bringing in new long-term partners, while continuing to face selling pressure from the market maker and challenges from market activity. Yooldo also said it will announce new game updates and additional buyback plans in the near term, and advised project founders to work only with reputable and trustworthy market makers.