Raydium – a Solana-based decentralized exchange (DEX) – was hacked for more than $2 million on Friday.
According to Raydium, the hacker appears to have taken control of the exchange’s management address to carry out the attack.
Lost more than 2 million dollars
redium a favour The hack posted on Twitter, indicating that investigations are still ongoing.
You provided a link to the attacker the account, which appears to hold about $1.45 million worth of Solana-based tokens at the time of writing. sun scan Offers That balance consists mostly of SOL ($1.4 million) and SPL ($44,000) tokens.
“The initial understanding is that the attacker has seized the owner’s authority, but currently the authority has been suspended over APMs and farming programs,” Redium said.
Arkham, a cryptographic intelligence provider, advertiser Previously, Solana’s account had already depleted several Raydium liquidity pools. It recommended withdrawing funds from Raydium as soon as possible.
But that’s not all: Looking back, blockchain expert ZachXBT added that about $2 million in funds has already been raised. bridge to Ethereum. This money was then quickly put into Tornado Cash – a crypto privacy shuffler that was approved by the US Treasury Department in August.
ZachXBT was a discovery confirmed By Nansen, who points out that $2.2 million in tokens, including $1.6 million in SOL, were withdrawn from Raydium by the hacker.
DeFiLlama shows that $35 million is still outstanding on DEX.
The crypto bear market has not been kind to Solana, including the local access and challenge system.
The collapse of FTX and Alameda Research – two of the network’s bullish backers – has seen SOL fall far from the cryptocurrency top ten. The token is worth just $12 at the time of writing, compared to $36 on November 5 before FTX’s liquidity crunch.
Meanwhile, Serum — another Solana DEX — has been forced into action start again, because its validation key was compromised when FTX crashed. The new protocol – Openbooks – is supposed to be community driven.
The fallout has also caused Serum’s SRM token to drop over 75% since November 6. The Solana Foundation had more than $100 million in SRM on FTX then, as it does now totally lost.
The month before that was a disaster for DeFi in general. eventually ends with 657 million dollars in losses from smart contract exploits.
Solana Protocol Raydium Hacked for $2 Million appeared first on CryptoPotato.