Solana Developers to Fork Serum Following FTX Hack

Developers in the Solana ecosystem have created new codes to fork Serum, a decentralized exchange software built on the protocol that allows users to buy and sell cryptocurrencies. The move became necessary after an alleged compromise was reported to have occurred with FTX.

According to a source on Twitter, many Solana developers believe the Serum protocol, created by FTX and utilized by numerous Solana blockchain apps, may have also been compromised as a result of the breach and therefore needed to be forked in order to protect its users.

Another source disclosed that Solana had removed all Serum DEX routes and Sollet-wrapped tokens from its in-wallet swapper in the wake of the current FTX attack. They pledged to take all possible efforts to protect their users as the situation changed.

A Mango Max reporter on Twitter has also added that not much information was gotten from Solana users about the situation because they had no idea of what was happening.

The reporter however added that a private key linked to FTX, was in charge of the serum program update key and not the SRM DAO. He added that no one can definitively say at the time who holds the key and hence the need to update the key. 

Solana Supports the Blockchain Community

Solana recently announced a partnership with Helium, a layer 1 blockchain. Helium has announced the move of its ecosystem to the Solana network (HIP 70) after a successful community vote. The network will produce a new version of the Helium Wallet App once the migration is finished. To access the latest version of the wallet app, users must update their installed copy.

Google Cloud has also announced that it is running a validator on the Solana blockchain. The native token of Solana, SOL, had a quick 15% price surge in response to the announcement. The company also plans to put the Blockchain Node Engine on the Solana blockchain sometime in the future in addition to utilizing and certifying the network.