Raydium Exploit Results in $1.34 Million Loss
- Solana-based DEX Raydium was exploited for over $1.34 million.
- The attack targeted five deprecated liquidity pools from its legacy automated market maker program.
- Stolen funds included nearly $900,000 in USDC, approximately $357,000 in Solana (SOL), and $86,000 worth of RAY tokens.
- Raydium’s current users were not affected as these pools were phased out in the UI since their deprecation.
- The firm’s existing mainnet programs reportedly prevent similar vulnerabilities.
The Raydium exploit highlights ongoing security challenges within DeFi protocols, as attackers bypassed validation logic to mint new liquidity provider tokens from deprecated pools. The incident adds to a series of recent vulnerabilities impacting crypto networks.
Raydium plans to cover the losses using its treasury funds, ensuring no current users are impacted financially by this breach. (Source)
