SOON responds to the price crash: attackers conducted synchronized withdrawals and cross-CEX sell-offs, and the team and market makers were not involved

ChainCatcher message, SOON will post a response on the X platform regarding the price flash crash incident that occurred on July 5. The SOON Foundation stated that the attacker executed synchronized withdrawals and cross-CEX sell-offs, and the high level of coordination in their actions indicates that this was a well-planned operation. At the same time, the attacker profited significantly from short positions by exploiting the extreme negative funding rates in contract trading.

The SOON Foundation clarified that the project team and SOON's official market-making partners, Jump Crypto and Amber Group, did not participate in the events of July 5 in any capacity, and disclosed the wallet addresses of the relevant parties.