Hacker Exploits Solana-Based Project Raydium for Over $4,300,000 As the Protocol's Native Token Slumps

A hacker just exploited the Solana (SOL)-based automated market maker (AMM) Raydium (RAY) for more than $4.3 million in crypto. Raydium first acknowledged the hack on Twitter on Friday morning. “An exploit on Raydium is being investigated that affected liquidity pools. Details to follow as more is known.

Timeline of Raydium, Solana, The-protocol

Solana's woes continue as the Raydium protocol, an automated market maker (AMM) on the Solana (SOL) network was hacked on December 16. Raydium, a Solana DeFi protocol was hacked for over $2 million early on Friday.

Solana was scrutinized extensively after speculations appeared connecting it to the bankrupt FTX. The network's perception of FTX was drastically altered by the occurrence, and the resulting fear, uncertainty, and doubt (FUD) proved challenging to dispel.

Solana price analysis for December 17, 2022, reveals the market following a complete bearish movement; however, Solana has obtained massive negative momentum, signifying a decline for the SOL market. The price of Solana has remained negative over the past few hours.

DeFi protocol Raydium suffered a liquidity pool exploit on Friday, compromising approximately $2 million in funds. The post Raydium Protocol Suffers A $2M Liquidity Pool Attack appeared first on BeInCrypto.

Radiyum Protocol, an order book AMM (Automated market Maker) on the Solana [SOL] network, was hacked on 16 December. Reportedly, the hacker extracted funds from various Raydium liquidity pools without owning or burning any LP tokens.

Raydium discovers a major exploit in its liquidity pool and loses at least $2 million, while users are urgently requesting withdrawals. Raydium, the decentralized Solana-based protocol, announced on Dec. 16 that it was compromised.

Solana price analysis for December 16, 2022, reveals the market following a complete bearish movement; however, Solana has obtained massive negative momentum, signifying a decline for the SOL market. The price of Solana has remained negative over the past few hours.

A Decentralized Finance (DeFi) protocol on the Solana blockchain was hacked, resulting in the loss of up to $2 million in user assets. According to sources, an attacker seized control of the Raydium Protocol's owner authority.

Amid the market chaos within the crypto economy and following the climactic FTX collapse, the crypto asset solana has been one of the hardest hit during the last 30 days. Since FTX's fallout, the digital currency lost 8.5% over the last month against the U.S. dollar and to date, it's down 94.

Solana (SOL) Price News: A Decentralized Finance (DeFi) protocol on Solana blockchain experienced an exploit that drained as many as $2 million in user assets. According to reports, owner authority was overtaken by attacker on the Raydium Protocol.