Developers of DeFi Project OptiFi Lose $661,000 Due to Failed Update

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

According to the company developers, the error occurred while updating the protocol code. The process allegedly took longer than expected, probably due to overload of the Solana blockchain.

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, which resulted in the loss of the funds.