Solido Foundation Hit by Major Exploit as SUPRA Token Crashes

Solido Foundation loses 90% of stolen SUPRA tokens in a major DeFi exploit. TVL drops below $1M as the SUPRA token price plummets 94% over the past year.

A recent security incident has dealt a fresh blow to the DeFi sector, raising serious concerns about the financial stability of the Solido project. The impact is particularly severe as the vast majority of the affected funds belonged to the project’s own foundation.

Initial reports from

Stolen Funds Transferred to Gate Exchange

Transaction tracking reveals that approximately 220 million SUPRA tokens were moved to a suspected deposit address on the Gate crypto exchange shortly after the attack took place.

This move deviates from typical DeFi exploits, where attackers usually route funds through crypto mixers or across multiple blockchains to obscure the trail. By transferring assets directly to a centralized exchange, there is a potential opportunity for the assets to be identified and frozen, provided the exchange receives a timely request for assistance from the project team or law enforcement agencies.

At the time of writing, Gate has not issued a public comment on the matter, and it remains unclear whether any portion of the funds has already been withdrawn or converted into other assets.

Solido Foundation Takes the Heaviest Hit

According to published data, roughly 90% of the stolen tokens belonged to the Solido Foundation. This detail elevates the incident from a simple loss of liquidity to a critical blow to the project’s core reserves.

Foundation funds are typically designated for ecosystem growth, funding new products, user incentives, and long-term protocol governance. Losing such a significant portion of these reserves could severely limit the project’s capacity to execute its roadmap and sustain further development.

The team has stated they are currently working on a response plan and evaluating all options to mitigate the fallout, including fund tracking and collaboration with industry partners. However, no specific measures for the recovery of the lost assets have been announced yet.

TVL Below $1 Million as SUPRA Drops 94% Annually

This breach occurs at a time when the Solido ecosystem was already struggling. According to data from DefiLlama, the Total Value Locked (TVL) in the network has dwindled to approximately $647,747, highlighting the limited liquidity and challenges facing the project even before the attack.

The SUPRA token also continues its steep decline. Over the last 12 months, its price has plummeted by approximately 94%. This latest exploit has only intensified the pressure on the asset and further eroded investor confidence.

The incident serves as another reminder that oracle system vulnerabilities remain one of the most significant risks for DeFi protocols. Despite years of security improvements, these types of breaches continue to cause substantial financial losses and strain the overall trust in decentralized financial applications.