Solana Protocol hacked Raydium for $2 million

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was a discovery confirmed By Nansen, who points out that $2.2 million in tokens, including $1.6 million in SOL, were withdrawn from Raydium by the hacker.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.

Misery Solana

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.

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