A decentralized cryptocurrency (D options exchange cut its very own existence short after unwittingly executing an order that closed its mainnet program making it irrecoverable.
OptiFi informed users that it is platform had arrived at an unceremonious finish after its team of developers attempted to update its code on Monday. Based on the decentralized exchange, this program incident also secured some 660,000 USD Gold coin (USDC) on-chain.
OptiFi’s program continues to be closed by mistakes we made.
TLDR
1. We accidentally closed the OptiFi mainnet program and it is not recoverable
2. 661k USDC is kept in the PDAs, fortunately 95% from the fund comes from we member
3. We’ll make amends for all users’ funds— OptiFi (@OptifiLabs) August 29, 2022
OptiFi has promised to pay user funds lost through the error, while a sizable majority of the locked-up USDC was apparently vested by certainly one of its team people. The organization has additionally advised other developers focusing on the Solana blockchain to become cautious about the ramifications from the “Solana program close” command.
Inside a Medium publish, the woking platform unpacked the number of occasions that brought towards the sudden closure of their mainnet. It started by having an make an effort to deploy an update to the Solana rule.
The deployment required more than usual because of exactly what the team referred to as bad network status, and also the command was canceled. However, a buffer address was produced that received SOL the team desired to recover.
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Previously, they were able to recover SOL from buffer accounts without needing memory phrases by closing this program. The approach initially looked to possess labored after executing the command, because the team retrieved the SOL, letting them make an effort to deploy this program again.
A mistake message was came back indicating the program have been closed and may ‘t be redeployed unless of course a brand new program ID was utilized. Discussions having a Solana core developer confirmed the team’s fears it would be unable to redeploy this program using its previous ID.
“Here it switched out that people didn’t really comprehend the impact and chance of this closing program command line. ‘solana program close’ is really for closing this program permanently and delivering the SOL tokens within the buffer account utilized by this program to the recipient wallet.”
The OptiFi team has known as for that Solana development community to understand more about two-step confirmation when running the “Solana program close” function and caution people that use the outcomes of while using command.
