DEX accidentally hits kill switch on mainnet, locking 660,000 USDC inside

A program upgrade deployment went terribly wrong because a fateful "Solana program close" command shut down the platform -form of OptiFi indefinitely.

A decentralized cryptocurrency (options exchange D shorted after it unintentionally executed a command that shut down its mainnet program and rendered it unrecoverable.

OptiFi informed users that its platform had been unceremoniously terminated after its development team attempted to update its code on Monday. According to the decentralized exchange, the program incident also locked some 660,000 USD Coin (USDC) on-chain.

OptiFi's program has been closed by errors we have made.

TL;DR

1. We accidentally closed the OptiFi mainnet program and it is not recoverable2. 661,000 USDC is locked in PDAs, luckily 95% of the funds come from our team members3. We will compensate all users' funds

OptiFi pledged to compensate users for funds lost through the error, while much of the blocked USDC was allegedly acquired by one of its team members. The company also urged other developers working on the Solana blockchain to beware of the ramifications of the "Solana program close" command.

In a Medium post, the platform opened up about the series of events that led to the sudden shutdown of its mainnet. It all started with an attempt to deploy an update to his Solana program code.

The deployment took longer than usual due to what the team described as poor network conditions, and the order was canceled. However, a buffer address was created which received the SOL the team wanted to retrieve.

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