Solana decentralized exchange Stabble has urged users to withdraw liquidity after its former chief technology officer was allegedly linked to a North Korean hacker.
The platform’s total value locked (TVL) dropped 62%, from $1.75 million to under $663,000, after the warning.
The alert came after pseudonymous on-chain sleuth ZachXBT identified Keisuke Watanabe, reportedly a former Stabble CTO, as an alleged North Korean operative. The new Stabble team posted an emergency message: “EMERGENCY! Guys, please temporarily withdraw your liquidity instantly!”
Despite no confirmed exploit, the team emphasized it is conducting audits for security.
This follows a recent $285 million hack of the Drift Protocol by North Korean-linked actors. The Solana Foundation has since announced new security measures for DeFi protocols with over $10 million in TVL.