FlashTrade Discovers $98,000 Unauthorized Withdrawal on July 22, Team to Cover Loss

SOL0.91%
According to an official statement, Solana perpetual protocol FlashTrade discovered an unauthorized $98,000 withdrawal on July 22 and suspended trading, deposits, and withdrawals. Trading has since resumed while deposits and withdrawals remain paused for approximately 24 hours to complete fund reconciliation. FlashTrade emphasized that user funds are safe and the team will cover the full $98,000 loss with no impact to users. The team is awaiting MagicBlock to complete a risk disclosure and release a security patch, expected within 12 to 24 hours.
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