SILV Was “Permissionless” Until Its Issuer Froze 2,819 Accounts

Dominion described SILV as permissionless. After a treasury multisig breach, the issuer froze 2,819 token accounts and said tokens bought during the incident window would be removed, with a USDC refund path for affected buyers.

The response uses exactly what an admin-controlled token can provide: a way to protect backing and earlier holders by overruling purchases that were valid onchain when they occurred.

For BYKO, the point is not that admin control is simply bad. BYKO cannot freeze, seize or recover holder balances. That protects ownership from the issuer, but it also removes an emergency correction mechanism. Wallets should make that trade-off visible before a user buys.

Sources: Dominion Market, Bitquery, SolanaFloor, CryptoCompass, Solana documentation.