Raydium hit with $1.34 M exploit on pools, offers refund

Hackers stole approximately $1.34 million in cryptocurrency from the Raydium decentralized exchange on Wednesday, exploiting a vulnerability in legacy infrastructure that had been discontinued in 2021. The Solana-based protocol confirmed that no active users or currently maintained liquidity pools were affected and pledged to fully reimburse all losses from its treasury.

The attack targeted five dormant liquidity pools tied to Raydium's older Automated Market Maker (AMM) V3 program, which was phased out three years ago and had been inaccessible through the platform's user interface since then. According to on-chain investigators, the attacker exploited a flaw in the validation logic of these inactive pools, using a forged mint address to bypass security checks and withdraw assets. The stolen funds consisted of roughly 150,177 RAY tokens, 5,603 SOL, and 893,700 USDC.

Blockchain security firm PeckShield and on-chain investigator Specter tracked the movement of the stolen assets. The attacker was initially funded through the KuCoin exchange before bridging the stolen funds to the Ethereum blockchain. From there, approximately 810 ETH was deposited into the Tornado Cash privacy...