The Solana-based perpetual protocol has resumed trading, but deposits and withdrawals remain paused for about 24 hours as the team reconciles funds and awaits a security patch from MagicBlock.
FlashTrade, a Solana ecosystem perpetual protocol, temporarily suspended trading, deposits, and withdrawals after an unauthorized $98,000 withdrawal. Trading has since resumed, while deposits and withdrawals are expected to remain paused for about 24 hours as the team reconciles funds. FlashTrade said the $98,000 loss will be fully covered and that user funds are unaffected. The incident reflects a common containment approach in crypto security events, where platforms restrict activity while assessing exposure and implementing fixes. A patch from MagicBlock is expected within 12 to 24 hours to address the issue.