Solana defi exchange “OptFi” accidentally bricks itself – Loses access to all funds forever.

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“Please don’t rush like what we did,”

It’s bad enough losing your funds in a hack due to poor security but the team at OptFi (no of course you haven’t heard of them they’re on Solana) have gone and outdone the rest of the hastily put together defi space by completely bricking their own platform and losing approximately $661k worth of USDC.

Whilst it’s definitely not the worst loss we’ve seen this year, it’s certainly one of the dumbest the timeline as follows:

https://twitter.com/OptifiLabs/status/1564367455220219904

On 29th August around 06:00 UTC, we had an update to our program code, and our deployer tried to upgrade the OptiFi program on Solana mainnet. However the deployer accidentally used the solana close program command, resulting in our OptiFi program being shut down.

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

661k USDC is locked in the PDAs, luckily 95% of the fund is from our team member 3. We will compensate for all users’ funds

Defi strikes again. Without knowing what the “close program” command did on Solana mainnet the devs managed to completely brick their own platform so if you were ever wondering if you’re qualified to work in the defi space the answer is probably yes provided you can read and know how to do a rudimentary search before copy pasting.

submitted by /u/MilesPower
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