Solana liquidity hub Serum to be forked after possible compromise in FTX hack
Solana developers are forking FTX-developed token liquidity hub Serum after it may have been compromised in a hack on FTX. On Friday, a hacker made unauthorized withdrawals of more than $400 million from FTX. The situation further exacerbated the exchange’s insolvency crisis, which led it to file for Chapter 11 bankruptcy protection.
Solana founder Anatoly Yakovenko noted that developers are rushing to fork Serum’s code today and resume the protocol without the involvement of FTX. Developers need another version of Serum because the original can only be updated via a private key that was controlled by someone at FTX and not the Serum DAO. As a result of the FTX hack, that key may have been compromised. “Afaik, the devs that depend on serum are forking the program because the upgrade key.
Source
@Solana_Updates
