Billionaire investor Mark Cuban appears to have gotten burned like everyone else as the price of a DeFi token crashed to zero earlier today.

What Happened: DeFi project Iron Finance’s algorithmic stablecoin Iron Titanium token (CRYPTO: TITAN) crashed by 100% from Wednesday’s high of $65 to $0.000005717 at the time of writing.

Cuban stated on Twitter that he too was affected by the collapse in TITAN’s price but also indicated that he managed to get out before the major crash took place after gauging that the token was overvalued.

According to Rekt News, the incident began when  TITAN became overpriced, perhaps due to users purchasing the token in order to farm TITAN pairs at ~50,000% APY.

Soon, large holders began to sell their TITAN tokens, flooding the market and leading to a cascading selloff.

Iron Finance, which once had over $2 billion in total value locked (TVL) on Polygon, now has under $240 million according to the protocol’s dashboard.

Read also: Mark Cuban On Why Polygon (MATIC) Is 'Destroying Everybody Else' In Crypto

“Please don't buy TITAN or IRON,” warned the project. “There is no hacks, no exploits or rug-pullings. We will post a post-mortem article with a detailed explanation in the next hours.”