The Solana tokenized silver project Dominion announced its closure after suffering an attack in September that led to a collapse in liquidity

The Solana tokenized silver project Dominion has announced its closure. The team stated that a security incident in September led to a significant amount of SILV being compromised and sold off, resulting in a liquidity collapse, operational capital losses, and damage to market structure. The capital required for reconstruction has exceeded the project's remaining resources.

Dominion has allocated most of its remaining liquid funds to a refund plan, allowing eligible pre-attack SILV holders to exit at $63 per token. SILV was originally designed to be a Solana token backed 1:1 by physical silver, with each token corresponding to one troy ounce of silver.

On September 11, attackers gained control of its 3/5 multi-signature key and sold approximately 46,909 SILV on a thinly traded DEX, with a nominal value of about $3 million before the attack, ultimately cashing out around $238,000.