SOON responds to token price crash: Attackers conducted simultaneous withdrawals and cross-exchange sell-offs, with no involvement from the team or market makers

According to ChainCatcher, SOON responded on the X platform regarding the flash crash of its token price on July 5. The SOON Foundation stated that the attacker simultaneously withdrew funds and sold off assets across CEXs, and the high degree of coordination in these actions suggests this was a meticulously planned operation. At the same time, the attacker profited significantly from short positions by exploiting extremely negative funding rates in contract trading.

The SOON Foundation clarified that neither the project team nor SOON’s official market-making partners, Jump Crypto and Amber Group, were involved in any capacity in the July 5 incident, and it has disclosed the token holding addresses of all relevant parties.