Lido’s SOL staking protocol loses access to $24 million in users’ deposits due to code error

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Cointime2024/04/03 01:27

By:Cointime

A code error in Lido's SOL staking protocol has caused $24 million in user deposits to become inaccessible. Lido announced in October 2023 that it plans to gradually phase out support for Solana over the coming months and removed the webpage that allowed stSOL holders to exchange their tokens for SOL. When Lido removed the webpage in February, users still held over 112,000 stSOL tokens, worth over $24 million.

In addition to there being no easy way to withdraw funds, a new bug was discovered in Lido's smart contract, which also prevents stSOL holders from withdrawing their funds. Now, over 31,000 wallets holding stSOL are in a difficult situation.

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