Solana Exchange Raydium Hit With $1.34 Million Exploit as DeFi Attacks Grow
Solana-based decentralized exchange Raydium will repay the funds swiped in the $1.34 million exploit using its treasury.
The Defiant·
Raydium core contributor Infra confirmed Wednesday that an attacker drained ~$1.34M from the legacy AMM V3 program, a contract phased out in 2021. Current users were unaffected, the treasury will cover full compensation, and the root cause was a self-contained LP-mint validation flaw. PeckShield
Read full articleSolana-based decentralized exchange Raydium will repay the funds swiped in the $1.34 million exploit using its treasury.
Raydium (RAY), a decentralized exchange on the Solana (SOL) blockchain, said Wednesday that it had suffered a $1.34 million exploit tied to its retired automated market maker, or AMM, V3 program. Raydium Pools Drained The protocol said the attacker removed about 150,000 RAY, 5,600 SOL, and nearly 900,000 of Circle’s USDC stablecoin from Raydium pools involving RAY-SOL, USDC-RAY, and SRM-RAY. Raydium attributed the compromise to a weakness in how the older AMM V3 handled liquidity provider (LP) mints. The platform said the vulnerability “stemmed from insufficient validation of the LP mints, which in practice allowed the attacker to bypass intended proportion checks. Related Reading: Prediction Markets’ Wild West Days May Be Over: CFTC Drafts Its First Major Framework According to the description of the mechanism, because the legacy AMM V3 program did not properly verify the LP mint address, an attacker was able to create a new mint and use it as the LP token, letting it evade the chec
Raydium has pledged to fully reimburse losses after an exploit drained approximately $1.3 million from five legacy liquidity pools built on Solana. According to blockchain security firm PeckShield and on-chain investigator Specter, the attack targeted retired automated market maker infrastructure…
The exploit highlights the need for rigorous deprecation processes and may prompt stricter regulatory scrutiny on DeFi security practices. The post Raydium reports $1.34M exploit on legacy AMM V3 program appeared first on Crypto Briefing.
Token of Power suffered an exploit on Tuesday that drained more than $1.5 million from its liquidity pool. On-chain firms Blockaid, PeckShield, and Cyvers flagged the incident in posts on X. The attack targeted the TOP/WETH Balancer V1 Pool and…
The post Gnosis Pay exploit tied to Zodiac delay module as users exit appeared on BitcoinEthereumNews.com. Gnosis Pay users were urged to withdraw funds after an active exploit linked to the platform’s Zodiac delay module, according to posts from Gnosis co-founder Martin Köppelmann and blockchain security firm PeckShield. Summary Gnosis Pay users were told to withdraw EURe and GNO after a delay module exploit. Köppelmann said the bug lets an attacker initiate transactions from Safes using the module. Gnosis said it would cover user losses while asking bridge validators to pause activity. “If you are a Gnosis Pay user – unfortunately I have to recommend: withdraw all funds (EURe and GNO),” Martin Köppelmann said on X. He said the delay module has a bug and warned that users “might be affected.” The post told users to move both EURe and GNO from Gnosis Pay while the team worked on the issue. “Users are strongly urged to withdraw all funds (EURe and GNO),” PeckShield said in a separate al
Gnosis Pay users were urged to withdraw EURe and GNO after a Zodiac delay module bug let an attacker initiate Safe transactions.
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