Shortly after FTX declared bankruptcy, there were reports of a hacker attack. In addition to causing the loss of a large amount of funds, the upgrade keys for the DEX Serum on Solana were also leaked. In order to avoid possible malicious attacks, Serum had to fork as a temporary solution.

Serum will fork due to key leak

Anatoly Yakovenko, co-founder of Solana, said on Twitter yesterday (13th) that because the key of Serum (DEX on Solana) was hacked, the development team of Serum is forking the protocol.

The Serum private key was hacked due to the attack on FTX, and hundreds of millions of dollars of assets have been flowed out of FTX without authorization. (Event report: FTX lost funds! Multiple Twitter celebrities warned that the FTX App was hacked and funds were sold: delete the APP for safety reasons)

A developer who goes by the pseudonym Mango Max is leading the fork, saying that Serum’s upgrade key is not controlled by the Serum DAO, but by a private key connected to FTX.

As there is currently no way to know who controls the upgrade key, it is impossible to ensure whether Serum will be deployed with malicious code, which is why this bifurcation is needed.

At the same time, many Solana protocols that rely on Serum functions to operate also announced that they will stop using Serum as a source of liquidity, such as Dex aggregation exchange Jupiter and NFT market Magic Edan.

Major trading pair markets are online

The latest Serum deployment version has been confirmed, and Mango Max said that the market for major trading pairs has been online, including SOL/USDC, USDT/USDC, MSOL/USDC and wheETH/USDC. In addition, Solana protocols such as Jupiter, Mango Market, OpenSerum and Solape are also being integrated with forked versions of Serum.

However, Mango Max also mentioned that this is only a temporary solution, and how to improve it in the future will be decided together with the community.

This article FTX was affected by the hacker! The Solana protocol Serum upgrade key is leaked and bifurcated to avoid attacks. First appeared in Chain News ABMedia.