According to a Tuesday project announcement, the <a href="https://www.cryptoknowmics.com/news/defi-platforms-exploits-federal-bureau-of-investigation-issues-warning/" target="_blank" rel="noopener">DeFi</a> options trading protocol OptiFi mistakenly shut down its mainnet, locking out $661,000 in user money. According to the team's incident report, the error occurred when attempting to upgrade the protocol's mainnet.
<h2>Solana Program Shut Down</h2>
As per the team's incident report, they made the error when updating the protocol's mainnet. According to the team, the procedure took longer than anticipated due to network congestion on Solana. Consequently, they stopped the upgrade, however, not before creating an intermediary account.

The developers then attempted to undo this creation by closing the program. The team used the command "solana program close." They had no idea that it actually shuts down the protocol, freezing all tokens permanently. Thus, the entire value of the platform, <a href="https://defillama.com/protocol/optifi" target="_blank" rel="nofollow noopener">amounting</a> to $661,000, is now locked. According to the team's incident report,
<blockquote><em>"Here, it turned out that we didn't really understand the impact and risk of this closing program command line. Solana program close is actually for closing the program permanently and sending the SOL tokens in the buffer account used by the program back to the recipient wallet."</em></blockquote>
<h2>Peer Surveillance Method</h2>
OptiFi claims they have learned from the mistake and will take precautions to avoid repeating the same situation. According to the Solana DeFi protocol, future contract implementations will utilize a "peer-surveillance method." At least three people will assess the deployer's actions to ensure that no errors will occur in the future. Additionally, OptiFi stated that it planned to compensate all affected consumers.

OptiFi Mistakenly Shuts Down Locking Up $661,000

DeFi options trading protocol OptiFi mistakenly shut down its mainnet locking out users' money. The error occurred when attempting to upgrade the protocol.

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OptiFi Mistakenly Shuts Down Locking Up $661,000

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