Slashdot: Solana-Based DeFi Protocol OptiFi Loses $661K In Programming Blunder

Solana-Based DeFi Protocol OptiFi Loses $661K In Programming Blunder
Published on August 31, 2022 at 04:50AM
Derivatives-focused decentralized finance (DeFi) platform OptiFi accidentally closed its mainnet platform in a programming blunder, locking away $661,000 in USDC. CoinDesk reports: The Solana blockchain-powered protocol made the error when it tried to update its program code. Instead of a standard update, OptiFi accidentally used the "solana program close" command, resulting in the permanent closure of the platform on the mainnet, according to a blog post. The funds are irretrievable, although OptiFi said that it will return all users' deposits and settle positions manually on Friday. The estimated process time will be two weeks. [...] In a tweet, OptiFi said that 95% of total value locked is from one of its team members, meaning that customer asset may equate to only $33,000.

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