DeFi project OptiFi lost $661,000 in failed update

DeFi project OptiFi lost $661,000 in failed update

OptiFi DeFi project lost $661,000 in failed update

The Solana-powered OptiFi DeFi protocol team accidentally shut down its mainnet, locking up $661,000 of user funds in USDC.

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.

«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.

Read ForkLog bitcoin news in our Telegram β€” cryptocurrency news, rates and analytics.