GMGN's Compensation Reinforces Platform Integrity
Haze, the co-founder of GMGN, confirmed via the X platform that compensation for users affected by MEV attacks on Solana has been completed and distributed. This compensation addresses losses from significant MEV sandwich attacks, highlighting GMGN's commitment to transparency and user protection amid growing DeFi vulnerabilities.
The announcement of compensation distribution was made by Haze, GMGN's co-founder, through the X platform. Haze confirmed that the platform addressed losses from MEV attacks, emphasizing user protection and accountability. "The team has completed the compensation distribution for users affected by MEV attacks. The loss calculation is finished, and compensation was sent to the relevant users' wallets yesterday." - Haze, Co-founder, GMGN.
Per ChainCatcher, the MEV attack targeted the Solana network, impacting GMGN and its users profoundly.
Market reactions underscore a positive shift following the compensation announcement. Experts in the crypto community have praised GMGN's swift response. Haze’s previous dedication to mitigating risks and offering compensations reflects positively on GMGN’s leadership, solidifying confidence in its operational integrity.
Solana's Market Resilience and Security Initiatives
Did you know? In April 2025, GMGN faced similar MEV attacks and initiated technical countermeasures. This historical precedent underscores consistent efforts in bolstering security and user protection.
On CoinMarketCap, Solana (SOL) holds a market cap of $108.95 billion and a market dominance of 2.83%. Currently priced at $198.24, its circulating supply is 549,578,097 coins. Over a recent 90-day period, Solana's price increased by 9.12%, illustrating its resilience amid market fluctuations.
The Coincu Research Team points to GMGN's proactive response as enhancing user confidence in decentralized platforms. Historical market responses to similar incidents prompted rapid uptake of Layer 2 solutions, potentially influencing Solana’s approach to expanding MEV protections and fostering growth in decentralized trading activities.