Failed Update Causes DeFi Project OptiFi to Lose $661,000
Main page News, DeFi
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Aug. 31, 2022

The team of the Solana-powered decentralized finance protocol (DeFi) OptiFi has accidentally shut down its mainnet, blocking $661,000 of users' funds in USDC.

According to the developers, the error has occurred during the protocol code update. The process reportedly took longer than expected, probably due to Solana's network overload.

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As a result, they aborted the installation process and used the Solana shutdown command.

The OptiFi team has explained:

"Without fully understanding the impact, we used 'solana close program' and the OptiFi program on mainnet was closed, and cannot be recovered anymore."

The developers have assured they will compensate all users for the losses.

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