A decentralized cryptocurrency (DEX) choices change lower its personal life quick after unwittingly executing a command that closed its mainnet program and made it irrecoverable.
OptiFi knowledgeable customers that its platform had come to an unceremonious finish after its growth crew tried to replace its code on Aug. 29. In line with the portfolio margining by-product DEX, this system incident additionally locked up some 660,000 USD Coin (USDC) on-chain.
OptiFi’s program has been closed by errors we made.
TL;DR
1. We unintentionally closed the OptiFi mainnet program and it isn’t recoverable
2. 661k USDC is locked within the PDAs, fortunately 95% of the fund is from our crew member
3. We’ll compensate for all customers’ funds— OptiFi (@OptifiLabs) August 29, 2022
OptiFi has pledged to compensate consumer funds misplaced by the error, whereas a big bulk of the locked-up USDC was reportedly vested by one among its crew members. The corporate has additionally urged different builders engaged on the Solana blockchain to be cautious of the ramifications of the ‘Solana program shut’ command.
The platform unpacked the sequence of occasions that led to the sudden closure of its mainnet in a Medium post, which started with an try and deploy an replace to its Solana program code on the mainnet.
On account of what the crew described as dangerous community standing, the deployment took longer than standard, and the command was canceled. Nevertheless, a buffer tackle was created that acquired Solana (SOL) tokens that the crew wished to get better.
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Previously, the crew had managed to get better SOL tokens from buffer accounts with out utilizing reminiscence phrases by closing this system. The strategy initially regarded to have labored after executing the command because the crew recovered the SOL, permitting an try and deploy this system a second time.
An error message was returned indicating that this system had been closed and couldn’t be re-deployed except a brand new program id was used. Discussions with a Solana core developer confirmed the crew’s fears that it might not be capable of redeploy this system with its earlier id.
“Right here it turned out that we didn’t actually perceive the impression and danger of this closing program command line. ‘solana program shut’ is definitely for closing this system completely and sending the SOL tokens within the buffer account utilized by this system again to the recipient pockets.”
The OptiFi crew has known as for the Solana growth neighborhood to discover two-step affirmation when operating the ‘Solana program shut’ operate and warning customers of the outcomes of utilizing the command.
