ใSolana wallet Solflare loses node key, staking rewards suddenly stop ๐ใ
Group chat: ๐ ๅ ๅ ฅXๅ ็็็ฒไธ็พค่
If you delegated your SOL to earn rewards, you may have opened your wallet these past few days and found: your coins are still there, but the rewards have stopped.
๐ข On October 28, Solana wallet Solflare paused SOL staking rewards. The reason: a security incident at a third-party staking provider, which lost the validator node's key. In short, the problem wasn't with the wallet, but with the partner running its node.
So what exactly was lost?
Solflare co-founder Vidor Gencel put it plainly: the node key can't access users' delegated stake. Their SOL remains in their own accounts and can only be controlled with their own private keys. Solflare's remedy is to add a new validator node and move all delegations over to it. Rewards will resume once the migration is complete, and a compensation plan will be announced in the app.
But one detail is worth distinguishing: your coins being safe doesn't mean there are no losses. Every day rewards are paused is a day of foregone earnings. Users also have to initiate the migration themselves; if they don't, their stake will remain on the old node. MetaMask's staking infrastructure experienced a similar incident, and ultimately all users' ETH was unstaked. This time, Solflare is only replacing the party running the node; the delegated stake remains in place.
โ ๏ธ Those most directly affected are people who have kept their SOL staked through Solflare for the long term to earn rewards. Staking demand was already waning in October, with net outflows of about 2.4 million SOL this month, close to $300 million, as $SOL slid from $123 to around $105. The steps you can take are straightforward: check your delegation status, migrate as prompted, and don't transfer your coins to an unfamiliar address before the migration is complete. And don't trust anyone in your DMs claiming they can restore your rewards.
๐ What really deserves attention is when the new node goes live, what the compensation plan says, and whether this wave of staking outflows slows by the end of the month.
Understanding how staking works is key to better understanding who's running those little rewards in your wallet for you.
#solana #Solfare
Group chat: ๐ ๅ ๅ ฅXๅ ็็็ฒไธ็พค่
If you delegated your SOL to earn rewards, you may have opened your wallet these past few days and found: your coins are still there, but the rewards have stopped.
๐ข On October 28, Solana wallet Solflare paused SOL staking rewards. The reason: a security incident at a third-party staking provider, which lost the validator node's key. In short, the problem wasn't with the wallet, but with the partner running its node.
So what exactly was lost?
Solflare co-founder Vidor Gencel put it plainly: the node key can't access users' delegated stake. Their SOL remains in their own accounts and can only be controlled with their own private keys. Solflare's remedy is to add a new validator node and move all delegations over to it. Rewards will resume once the migration is complete, and a compensation plan will be announced in the app.
But one detail is worth distinguishing: your coins being safe doesn't mean there are no losses. Every day rewards are paused is a day of foregone earnings. Users also have to initiate the migration themselves; if they don't, their stake will remain on the old node. MetaMask's staking infrastructure experienced a similar incident, and ultimately all users' ETH was unstaked. This time, Solflare is only replacing the party running the node; the delegated stake remains in place.
โ ๏ธ Those most directly affected are people who have kept their SOL staked through Solflare for the long term to earn rewards. Staking demand was already waning in October, with net outflows of about 2.4 million SOL this month, close to $300 million, as $SOL slid from $123 to around $105. The steps you can take are straightforward: check your delegation status, migrate as prompted, and don't transfer your coins to an unfamiliar address before the migration is complete. And don't trust anyone in your DMs claiming they can restore your rewards.
๐ What really deserves attention is when the new node goes live, what the compensation plan says, and whether this wave of staking outflows slows by the end of the month.
Understanding how staking works is key to better understanding who's running those little rewards in your wallet for you.
#solana #Solfare
