The Solana-based asset management protocol Solfire attracted users with its promises of over 500% APY. Partnerships and mentions from other prominent Solana projects helped the project earn legitimacy, and they enjoyed over $12 million TVL at the project’s peak.However, on January 23, the project developers drained around $4.8 million from the project before deleting the project’s website and social media accounts.

Total loss estimated at $4,800,000.