The Solana-powered OptiFi DeFi protocol team accidentally shut down its mainnet, locking up $661,000 of user funds in USDC.
OptiFi's program has been closed by mistakes we made.
1. We accidentally closed the OptiFi mainnet program and it's not recoverable
2. 661k USDC is locked in the PDAs, luckily 95% of the fund is from our team member
3. We will compensate for all users’ funds
— OptiFi (@OptifiLabs) August 29, 2022
According to the developers, the error occurred while updating the protocol code. The process took longer than expected, probably due to Solana overload.
As a result, they aborted the installation process, but after an intermediate proxy account was created. In an attempt to remove the buffer account, the developers used the solana program close command.
— Richard Patel 🔥💃🏻 (@terorie_dev) August 30, 2022
«In order for this proposal to reach the Solana mainnet, it must pass technical review. After that, advance to a function that must be approved by the majority of validators for activation,” he noted. user funds. Over 11,539 ETH (~$33.93 million) were permanently locked in the smart contract.
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