SRM token up by 175% after Solana based Serum forks
A couple of days back beleaguered crypto exchange FTX was hacked. A recent post by blockchain forensics firm Elliptic highlighted that various tokens on Ethereum, BNB Smart Chain, and Avalanche were removed. Out of the $663 million drained, around $477 million is suspected of being stolen, while the remaining is believed to be moved into secure storage by FTX itself. Right after, developers and other community members suspected the hack might have also compromised Serum, a Solana-based protocol developed by FTX. Developers needed another version of Serum because the original could only be updated via a private key connected to FTX. The Serum DAO, on its part, did not have control over the key. So, because of the FTX hack, that key may have been compromised, and thus, the team decided to go ahead with an emergency fork. Pseudonymous developer Mango Max who led the fork confirmed the same. The developer further highlighted that Serum was the central order book for LPs ...