A targeted borrowing restriction

Kamino announced a precautionary pause on borrowing in its SOL/BTC Market after the Binance incident, while saying its own protocol was unaffected. The official notice was published at 22:03 UTC on October 29 and said the team was monitoring developments with its partners.

Wallet access blocked, collateral checks reported

In a 22:43 UTC update reposted by Kamino, co-founder Marius said the team had checked major collateral assets with issuers and partners and had not identified exposure or backing problems at that point.

He also said Kamino blocked the attacker’s Solana wallet from its infrastructure within five minutes of identifying it, separately from pausing on-chain borrowing in the named market. That describes an infrastructure-access restriction, not an issuer freeze of the wallet’s tokens.

What the SOL/BTC label means

The restriction concerns a lending market, not a general halt in trading SOL against bitcoin. Kamino’s market documentation lists multiple supported assets there, including SOL, wrapped ether, tBTC, USDC, USDT and liquid-staking tokens.

The documentation describes each market as a separate environment with its own collateral, borrowable assets, liquidity and risk settings. Collateral in one market cannot support borrowing in another. This structure explains why identifying the affected market matters; the announcement did not declare every Kamino product shut down.

Reopening remains unconfirmed

Marius expected borrowing to resume shortly, but no subsequent reopening announcement was found in the official accounts checked at 07:41 UTC on October 30. An expectation is not confirmation that access has returned.

A borrowing pause also should not be read as a promise that existing loans stop accruing interest or cannot lose value. Kamino’s borrowing guide explains that outstanding debt accrues interest and that collateral values and liquidation thresholds determine position risk.

For the separate response on another lending protocol, see our Aave freeze report. Our DeFi lending guide explains the underlying collateral mechanics.

Information checked October 30, 2026, 07:43 UTC. Operational and exposure assessments are attributed to Kamino and its co-founder.