Solana is a blockchain Solend is a DeFi protocol

You can use solend to lend and borrow token.

A whale lend 5,701,884.2806 Solana to solend. Some days later he borrowed 108,179,073.17 usdc and usdt.

So the drama is happening on 2 sides.

1. people who lend usdc and usdt to solend cant withdraw their assets because this whale borrowed everything of it. Those people had no idea that this could happen.

2. The sol price dropped and this is now a real problem. You can only borrow 85% of the value you lend before. When sol drops more the Sol position gets liquidated. Since everyone can liquidate this position and get a 5% reward, bots will spam the blockchain like never before. And this may cause another solana outtake. The worst case would be that the sol price goes down even further and would liquidate more and more positions.

Solend now asked their users if they should take over this account and solve it by upgrading the smart contract between solend and the whale.