Serum, an open liquidity infrastructure known to be the most used liquidity hub in the Solana ecosystem, is now said to be forked after the fact that it may have been compromised due to the FTX attack.

A developer with a pseudonym, Mango Max, said on Twitter that “a verified build of the same version was made and deployed” on November 12. sig controlled by a team of trusted developers. Serum (SRM) and MegaSerum (MSRM) tokens, as well as fee discounts, have not changed and now work as usual.

Since FTX develops Serum, many Solana developers believe that the hack may have affected the protocol. Anatoly Yakovenko, a developer on the Solana blockchain, stated that developers are racing to fork Serum’s code today and restart the protocol without FTX’s involvement.

However, apparently the developers might need another version of Serum because the original can only be updated via a private key which is controlled by someone at FTX and not by the Serum DAO. As a result of the FTX hack, that key may have been compromised. Yakovenko additional“Afaik, the developers who depend on the serum are forking the program because the upgrade key to the current one is compromised.”

Yakovenko is not the only developer who contributed to the fork issue. max handle said, “The serum program update key was not controlled by SRM DAO but by a private key connected to FTX. At this time, no one can confirm who controls this key and therefore has the power to update the serum program, possibly implementing malicious code.”

max handle mentioned that he and a few other developers have now decided to take matters into their own hands and push for a “re-release”. He also concluded that some community projects, including Solape Finance, Open Serum, Jupiter Exchange, Switchboard, and Mango Markets, have announced that they are working to integrate with the hard fork.

While the relaunch plan was being developed, several Solana apps that depend on the Serum protocol began limiting their exposure. Jupiter, a widely used DEX aggregator exchange on Solana, informed users who have disabled the use of Serum liquidity due to security concerns. Jupiter concluded by encouraging other integrators to do the same.

Other Solana-based apps, such as Mango Markets, Phantom and Magic Eden, also announced that they would stop relying on Serum for liquidity and discontinued use for security reasons.

It is no longer news that the hack and bankruptcy of FTX have caused so much damage in the industry, affecting other projects. Recently, Galois Capital, a crypto hedge fund that engages in over-the-counter trading, revealed that almost half of its capital is trapped in FTX.

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