SOL Network Near Shutdown as 28.83% Staked Assets Lose Connectivity

Marinade Finance reports SOL network nearly halted due to Teraswitch routing error, causing 333 SOL reward loss and exposing staking concentration risks.

Woofun AI reports that the Solana network approached a shutdown threshold this morning when 28.83% of staked SOL assets lost connectivity, nearing the 33.34% trigger point. A routing error by service provider Teraswitch misdirected messages from Miami nodes to Europe and Asia-Pacific regions, disconnecting 12 validation nodes including LON1, AMS1-3, DUB1-2, FRA2, SGP1-2, and TYO1-3. North America remained unaffected, and connectivity was restored within 10 minutes. The incident resulted in approximately 333 SOL in lost staking rewards for Marinade Finance.

Marinade Finance noted that AS20326, hosting over a quarter of network staked assets, had 94% of its nodes offline, with the actual staked percentage at 27.34%, exceeding the 25% limit set by SFDP regulations. Helius, the second-largest node operator, remained offline for 33 minutes with limited failover success. Marinade Finance stated it will review staking concentration limits and advocate for public disclosure of validation node failover capabilities.