FlashTrade Suspends Deposits and Withdrawals After Unauthorized $98,000 Withdrawal

Solana-based perpetual protocol FlashTrade paused trading, deposits, and withdrawals after disclosing an unauthorized $98,000 withdrawal. According to Odaily, trading has resumed, while deposits and withdrawals remain suspended for about 24 hours to complete a fund reconciliation. FlashTrade said user funds are safe, that the $98,000 loss will be fully covered by the team, and that users will not be affected. The team is waiting for MagicBlock to complete its risk disclosure and release a fix patch, which is expected to take 12 to 24 hours.