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It is with a heavy heart that we announce the following.
Due to the recent exploit and the operational challenges that followed, we have made the difficult decision to sunset the Texture lending protocol.
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We are deeply grateful for the trust and support you’ve shown us throughout this journey. Texture was born from a vision to reshape DeFi lending, and while this chapter is ending, we’ll soon share more reflections on what we've learned, and what comes next.
Team Texture.
We’re pleased to share some good news - Our team alongside team Certora (@certora) have reviewed the vaults code of our smart contract to check for potential vulnerabilities and ensure the safety of our contract.
Withdrawals of USDC and SOL from Vaults are now re-enabled.
USDC Vault depositors can withdraw a portion of their funds directly. For the remaining balance, please open a ticket in our Discord and include your wallet address for assistance.
If you had active Borrow or Power Leverage positions, we recommend monitoring them, as rates may be volatile in the coming days.
We’ll share updates on the next steps for the protocol shortly.
Thank you for your patience and continued support.
Please be cautious of scam links and impersonator accounts.
All official updates will ONLY come from this account.
If you receive a DM or see another account asking you to message them or click a link - it’s a scam.
Withdrawals will be opening soon. We will share an official announcement.
🚨 On July 9th, the Texture Vaults contract was exploited, resulting in ~$2.2M being transferred to an attacker’s wallet.
The exploit targeted the contract’s rebalance function. The UI and contract were paused immediately to prevent further loss. The issue is fixed, and funds are recovered.
Here’s what happened.