Solend Community Votes To Backtrack On Whale Ta... Instant

The crisis began when a single whale account held a massive position—depositing 5.7 million SOL (then worth ~$170 million) and borrowing over $108 million in stablecoins.

In June 2022, the Solend community voted overwhelmingly to reverse a previous decision to seize control of a "whale" account . This backtracking occurred after intense backlash from the broader crypto community, who argued that taking over a user's funds violated the core principles of decentralized finance (DeFi) and set a dangerous precedent. Overview of the "Whale Takeover" Event Solend Community Votes to Backtrack on Whale Ta...