{"id":212728,"date":"2022-01-24T11:30:09","date_gmt":"2022-01-24T11:30:09","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=212728"},"modified":"2022-03-11T19:40:15","modified_gmt":"2022-03-11T19:40:15","slug":"latest-solana-outage-leave-users-liquidated","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/latest-solana-outage-leave-users-liquidated\/","title":{"rendered":"Latest Solana outage leave users liquidated"},"content":{"rendered":"

With the crypto market witnessing one of the most bearish weeks in recent memory, Solana<\/a>, the much-heralded rival of Ethereum<\/a>, saw a network outage that lasted for more than 24 hours which led to massive losses for users of the blockchain.<\/p>\n

Solana goes off again<\/h2>\n

On January 21, the Solana network team revealed that the network was suffering an outage. Then, the cause of the \u201cperformance degradation\u201d was unknown, but 24 hours after investigation, it was revealed that the issue was caused by bots performing \u201cexcessive duplicate transactions.\u201d<\/p>\n

Notably, this outage coincided with when the global crypto market was experiencing a heavy fall on Friday. Aside from this, it would be the second time that the Solana network would go offline in this year alone.<\/p>\n

DeFi users count their losses<\/h2>\n

Available information has shown that DeFi users of the blockchain were left to rue their losses due to the network outage.<\/p>\n

Users of Solend, a decentralized protocol for borrowing and lending on the Solana blockchain, saw their trades liquidated as they were unable to repay loans or add liquidity to their portfolios.<\/p>\n

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We're painfully aware of the issues in which users were unable to save themselves from being liquidated due to network congestion, and are looking into reconciliation.<\/p>\n

— Solend \ud83d\udfe0 (@solendprotocol) January 23, 2022<\/a><\/p><\/blockquote>\n