Solana Exchange Raydium Hit With $1.34 Million Exploit as DeFi Attacks Grow - Decrypt

In brief

Solana DEX Raydium was hit with a $1.3 million exploit on Wednesday.

The exploit affected five deprecated liquidity pools from an older version of its automated market maker program.

The incident joins a growing list of DeFi exploits and the discovery of major vulnerabilities, some fueled with AI tools.

Five deprecated liquidity pools from Solana-based decentralized exchange Raydium were exploited on Wednesday, leading to more than $1.34 million in stolen funds. The exploit impacted the firm’s legacy automated market maker program and led to the loss of Solana (SOL), as well as dollar-backed stablecoin USDC and the exchange’s native token, RAY. “No current users of Raydium are affected by this exploit or would have been able to interact with these pools through the UI since their deprecation,” posted pseudonymous Raydium contributor 0xInfra on X. The exploiter, who has a Solana address ending in “Bq33QVk,” was able to bypass validation logic in the deprecated program and mint new liquidity provider tokens. In total, the attacker made off with nearly $900,000 in USDC, approximately $357,000 in SOL, and $86,000 worth of RAY. It will be repaid using the firm's treasury.