A compromised treasury multisig forces Dominion to freeze recently acquired tokens and begin work on restoring its 1:1 silver peg.
- Dominion Market's $SILV token, backed by physical silver, experienced a 70% collapse after a treasury multisig exploit compromised wallets and led to a significant sell-off.
- The issuer has frozen recently acquired $SILV tokens to protect long-term holders and is working to restore the 1:1 silver peg, with plans to refund affected users.
- The incident highlights vulnerabilities in tokenized commodity markets, particularly on smaller blockchains like Solana, and underscores the importance of robust security and transparency.
Topics: Asset types, Risk default, Transparency audits, Alternative assets, Smart contract vulnerabilities, Proof of reserve
Tags: #dominionmarket #silv #exploit #silverpeg #tokencollapse #solana #treasurymultisig #physicalsilver #audits #refunds