Skip to main content


Serum SRM/USD, a decentralized exchange software built in the Solana SOL/USD ecosystem, may have been compromised when the hacking of bankrupt FTX occurred on Saturday.

FTX announced that the exchange had been hacked on its official Telegram message. As a result, more than $600 million in cryptocurrency vanished from the FTX wallets.

Various tokens, along with Solana, left FTX’s official wallets and were transferred to decentralized exchanges like 1inch. 

Solana developers suspect the FTX hack may have also compromised Serum. 

According to a report, Solana founder Anatoly Yakovenko said in a tweet message that Serum’s original key may have been compromised with the FTX hack, and developers are working on forking Serum’s code. 

Also Read: Bahamas Regulators Interview FTX’s Sam Bankman-Fried, Say They Didn’t Authorize Prioritizing Local Withdrawls

He said that the original Serum could only be updated via a private key that FTX and not the Serum DAO controlled. 

A pseudonymous developer called Mango Max has said on Twitter that he is leading the Serum fork efforts.

Now Read: Crypto.com CEO Says ETH Worth $300M Transferred ‘Erroneously,’ Binance’s CZ Tweets ‘Clear Sign Of Problems’

Photo: Courtesy of shutterstock.com




Read the original article

Leave a Reply