River Protocol has been targeted by a coordinated attack that has shaken the stablecoin ecosystem and led to significant price volatility for its RIVER token since November 7th. This attack, involving malicious short sellers and concentrated exchanges of River Points (Pts), aims to manipulate the market and destabilize the protocol’s exchange mechanism. The River team swiftly responded by temporarily halting token exchanges and initiated a market buyback operation to avert a systemic collapse. Following these measures, the attackers exited their short positions. While they are currently working to enhance security mechanisms, release data transparency, and hold an AMA session to address future plans.