Odaily Planet Daily reports: Marinade Finance posted on X that the Solana network nearly went offline this morning, with 28.83% of staked SOL becoming unreachable, nearing the 33.34% threshold for network shutdown. The incident affected 90 validator nodes, resulting in approximately 333 SOL in lost rewards. The outage was caused by a routing error from service provider Teraswitch: an incorrect route from the Miami node was broadcast to Europe and Asia-Pacific regions, causing 12 nodes (LON1, AMS1-3, DUB1-2, FRA2, SGP1-2, TYO1-3) to lose valid routing—North America remained unaffected. The issue was resolved within 10 minutes. Marinade Finance noted that ASN AS20326 hosts over a quarter of the network’s total staked SOL; during the outage, 94% of its staked balance went offline simultaneously, accounting for an actual 27.34%—exceeding the SFDP-mandated 25% upper limit. The network’s second-largest validator, Helius, was completely offline for 33 minutes, with only a few nodes successfully executing failover. Marinade Finance stated it will review staking concentration limits and advocate for validators to publicly disclose their failover capabilities.
Solana Network Near Collapse as 28.83% of Staked SOL Goes Offline
KuCoinFlashShare
Summary
Efforts to upgrade the Solana network encountered a setback as 28.83% of staked SOL went offline, nearly reaching the 33.34% threshold that would halt the network. A routing error by Teraswitch affected 12 nodes in Europe and Asia, resulting in the loss of 333 SOL in rewards. Marinade Finance reported that AS20326, which hosts over a quarter of all staked SOL, had 94% of its stake offline, exceeding the SFDP 25% limit. Helius, the second-largest node, remained offline for 33 minutes. The incident has reignited demands for greater transparency and stricter limits on staking concentration. SEC-related developments remain a key concern as the project moves forward.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.