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Meteora: Q1 report shows a loss of $1.5 million due to OTC fraud
CryptoWorld News disclosed in Meteora’s Q1 2026 token holder report that the team suffered a loss of $1.5 million due to an OTC scam. The loss occurred when the team attempted to buy back MET tokens. Meteora said total cash outflows in the first quarter reached $7 million, down from $30.8 million in Q4 2025, mainly due to lower one-time costs and reduced capital investments. Meteora reported $2.5 million in MET-related outflows, including $1 million for buybacks and $1.5 million due to the OTC scam. Meteora has filed a police report with local authorities. Trading volume in the first quarter was $19.5 billion, down 36%. Total expenses were $105.9 million, down 51%. Revenue was $11.4 million, down 35%. Meteora continued MET buybacks, spending $1 million to acquire 70 million MET at an average price of $0.1427.