Solana Exchange Raydium Hit With $1.34 Million Exploit as DeFi Attacks Grow
Summary
Five deprecated Raydium liquidity pools on Solana were exploited, causing more than $1.34 million in losses. The attack targeted the legacy AMM V3 program, which was phased out in 2021, and did not affect current Raydium users or active UI-accessible pools. The attacker bypassed validation checks to mint liquidity provider tokens and drained about $900,000 in USDC, $357,000 in SOL, and $86,000 in RAY. Raydium says the losses will be covered by its treasury and that the issue was not caused by a key compromise or authority failure. The exploit adds to a recent wave of DeFi security incidents. RAY fell about 2% on the day and roughly 13% over the past week.
