Raydium Protocol Suffers A $2M Liquidity Pool Attack

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.

Timeline of Raydium

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-based decentralized exchange Raydium has been exploited for $2.2 million.  The attacker overtook the owner's authority on the platform, according to the firm's initial understanding.

Solana-based decentralized exchange Raydium suffered an exploit that appears to have taken more than $2 million. The post Solana-based exchange Raydium suffers $2 million exploit appeared first on The Block.

The price of Raydium (RAY) drops to $0.7 against Tether (USDT) from its all-time high of $15 as it eyes to bounce from its low. Despite the relief bounce across most crypto assets, the price of Raydium (RAY) has continued to remain dormant at its all-time low.