Solana silver project Dominion shuts down after September breach
Solana (SOL)
Editor:
Eugene Serbin
Lookonchain.com reports that the Solana-based tokenized silver project Dominion has announced its shutdown following a security incident. The team stated that a September attack led to a large-scale breach, causing a sell-off of SILV tokens and a collapse in liquidity. On September 11, attackers compromised three of the project's five multi-signature keys and dumped approximately 46,909 SILV tokens on a low-liquidity decentralized exchange.
The pre-attack nominal value of these tokens was around $3 million, with attackers cashing out roughly $238,000. This event triggered operating capital losses and damage to market structure, with reconstruction costs exceeding remaining resources. Dominion has allocated most of its remaining liquid funds to a refund program for eligible holders.
Eligible SILV holders who held tokens before the attack can exit at a rate of $63 per token. SILV was originally designed as a Solana token backed 1:1 by physical silver, with each token corresponding to one troy ounce. The project cites that the capital required for reconstruction exceeds what remains available. The shutdown marks the end for the tokenized silver initiative after the significant security breach.
How the market reacted
Whalio's own Binance spot order flow for SOL, measured when this story was written up on 7 October 2026. Not the outlet's figures.
Solana is trading at $120.71 with a 1-hour buy ratio of 41.4% and a 4-hour buy ratio of 39.7%, both below the 24-hour average of 48.0%. This indicates that buying pressure is fading in the short term compared to the daily trend. Volume delta shows net selling of -$3,941,326 over the last hour and -$8,339,209 over the last four hours. The volume delta represents the difference between buy and sell volume, so negative values mean sellers are dominating the flow. Over 24 hours, the cumulative volume delta is -$30,617,192, confirming sustained selling pressure. Spot volume for the day is $175,936,492 across 470,014 trades.
The latest daily buy ratio of 48.8% sits at the 27th percentile of the last 322 days, against a median of 50.0% - weaker buying than most days.
Was that an ordinary day?
The same Binance spot measurements for SOL, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 49.1%, with the latest day showing a 1.0 point drop from that average. Volume was 0.71x the weekly average, indicating lighter trading activity than usual. Net buying occurred on only 2 of the 7 days, suggesting a generally bearish week. The price changed +1.3% over 8 days, while the total volume delta was -$21,169,906. This day is slightly less bullish than the weekly average, with volume significantly below normal levels.