Splash’s ADA/OADA StableSwap pool was drained on September 13 through two transactions by an attacker who withdrew 2,434,648 ADA and 1,988,222 OADA, resulting in a net drain of 2,424,778 ADA after deducting their own deposit. The pool now holds only 10 ADA and approximately 1.44 million OADA, while Splash’s swap mechanism offers no protocol-level redemption for OADA. A validator patch can now block the documented exploit path but cannot restore ADA liquidity or compensate for the negative tradable reserve. OADA holders remain trapped without a meaningful exit route and facing thick OADA inventory on the secondary market that would arbitrage any fresh liquidity added to a reopened pool.
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