The SOL staking protocol of Lido resulted in users' $24 million deposits being inaccessible due to a code error
Due to a code error, Lido's SOL staking protocol has made users' $24 million deposits inaccessible. In October 2023, Lido announced plans to gradually discontinue support for Solana over the next few months and removed the webpage that allowed stSOL holders to exchange their tokens for SOL. When Lido removed this page in February, users still held more than 112,000 stSOLs with a market value exceeding $24 million. In addition to there being no easy way to withdraw funds, a new bug was found in Lido's smart contract which also prevented stSOL holders from withdrawing their money. Now, over 31,000 wallets holding stSOL are stuck in limbo.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Analyst: Nakamoto transferred 1,003 BTC to Cobo as additional collateral for the previous $250 million financing