Solana-based decentralized exchange Raydium has been exploited for $2.2 million.
T.According to the company’s initial understanding, the attackers hijacked the owner’s rights on the platform.
A Raydium exploit that impacted liquidity pools is being investigated.We will follow up with details as soon as they are known
⁰Our initial understanding was that the owner’s rights were hijacked by the attacker, but AMM and farm program rights have been suspended for now
attacker accounthttps://t.co/ZnEgL1KSwz— Raidium (@RaydiumProtocol) December 16, 2022
More than $2.2 million, including $1.6 million in SOL, has been withdrawn from Raidium’s liquidity pool, according to findings from crypto analysis firm Nansen.
Wallets draining LP pools from the Raydium liquidity pool have now received over $2.2 million, including $1.6 million. $SOL
Track here: https://t.co/IQedsOstPE pic.twitter.com/OAQJgaq5Mc
— Nansen Portfolio (@nansenportfolio) December 16, 2022
In response to the exploit, Solana-based companies such as Compendium and Prism have withdrawn their assets and advised users to do the same.
Compendium Foundation is temporarily withdrawing $CMFI / $USDC / $SOL Liquidity from Raydium for recent exploits.
The attackers appear to have gained access to keys used to collect fees from LP pools, after which their privileges were suspended.
1/2
— Compendium (@CompendiumFi) December 16, 2022
🚨🚨🚨🚨🚨
It appears that there are wallets that are draining the LP pool from the Raydium liquidity pool using the custodian wallet as a signer and without owning/burning the LP tokens.Withdrawn protocol offering PRISM/USDC liquidity from Raydium
Extract PRISM/USDC liquidity from RAYDIUM
— Prism (@prism_ag) December 16, 2022
Some users have accused the protocol of not having multi-signatures in the midst of attacks.
Wasn’t it multisig?
We apologize for the loss.
But you seem to have brought it upon yourself and waited for this to happen.— Poor and Boring Sol (@DeChDAO) December 16, 2022
Additionally, some users became skeptical of the Solana ecosystem as a whole after the attack.
just when we think #solana It doesn’t get worse, it finds a way to surprise us!
— Helin ULKER (@beautyofhelin) December 16, 2022
As a result of Sam Bankman-Fried’s extensive ties to his investment empire, the Solana DeFi ecosystem was hit particularly hard by the collapse of FTX.
