Solana DeFi Exchange OptiFi Accidentally Shuts Down Its Program!
Solana DeFi exchange OptiFi accidentally shuts down its program! On August 29th, OptiFi shared with the community on Twitter what happened on Monday.
The Accident
On August 29th, OptiFi, a Solana-based decentralized exchange, took to Twitter to share it accidentally shut down its program. Because of this, all the funds became inaccessible. As a result, around $661,000 worth of USDC has been locked inside.
OptiFi stated, “661k USDC is locked in the PDAs, luckily 95% of the fund is from our team member.”
OptiFi's program has been closed by mistakes we made.
TL;DR
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
What happened? OptiFi further explained that on Monday, they had an update to their Solana program code, so their deployer wanted to upgrade the OptiFi program on the Solana mainnet. However, they accidentally use the ‘Solana Program Close’ command.
OptiFi tweeted, “The deployer accidentally used the Solana close program command, resulting in our OptiFi program being shut down.”
As a result of the mistake, OptiFi promised to give compensation to all users. For more questions about it, users can contact OptiFi via Discord.
The Next Steps
OptiFi fully realized the mistake, and they reminded everyone to be careful and not rush anything during an upgrade.
OptiFi wrote, “Every deployment needs a rigorous process, and single point failure can be avoided. Please do not rush like what we did, especially for DeFi projects.”
OptiFi also mentioned several steps they will take to avoid the incident in the future, such as strictly executing the peer surveillance approach.
OptiFi ended the Twitter thread by asking everyone to share what happened to prevent the incident from happening again. They also apologized to all users who were affected by this mistake.
Since the news dropped, the community has been actively discussing what happened and hoping OptiFi can recover.
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