SBF’s ‘Truly Trustless’ Protocol — Serum’s Upgrade Authority May Be Tainted, Devs Look to Fork Project

According to Solana’s founder, Anatoly Yakovenko, Serum developers are forking the platform because the “upgrade key to the current one is compromised.” Serum, created by FTX’s Sam Bankman-Fried (SBF), was touted as “completely permissionless,” but now that the exchange has fallen, it’s suspected that Serum’s upgrade authority is tainted. **Editor’s Note: An update has been added to the end of this story at 6:50 p.m. (ET) on Nov. 13, 2022, to reflect that Serum devs have forked the protocol. A So-Called ‘Trustless’ Defi Protocol With a Possible Tainted Upgrade Authority Pushes Devs to Fork Serum Project While FTX and Alameda