Solana-based decentralized exchange Raydium was exploited for $2.2 million.
TAccording to the company’s initial findings, the attacker has taken over the owner’s authority on the platform.
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An exploit on Raydium that affected liquidity pools is being investigated. Details will follow as soon as more is known
⁰Initial findings assume that the attacker has seized authority from the owner, but authority for AMM and farm programs has been stopped for now
Attacker Accounthttps://t.co/ZnEgL1KSwz
— Raydium (@RaydiumProtocol) December 16, 2022
According to crypto analytics firm Nansen, over $2.2 million was withdrawn from Raydium liquidity pools, including $1.6 million in SOL.
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The wallet, which is withdrawing LP pools from Raydium liquidity pools, has now received over $2.2 million, including $1.6 million in 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 like Compendium and Prism are siphoning off their assets and advising their users to do the same.
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In response to the recent exploit, the Compendium Foundation is temporarily withdrawing $CMFI / $USDC / $SOL from Raydium.
Apparently, the attacker gained access to keys used to collect fees from LP pools, and the authority has since been stopped.
1/2
— Compendium (@CompendiumFi) December 16, 2022
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🚨🚨🚨🚨🚨
There seems to be a wallet that withdraws LP pools from Raydium liquidity pools by using the admin wallet as a signer without having/burning LP tokens.
We have withdrawn the protocol to provide Raydium’s PRISM/USDC liquidity
WITHDRAW YOUR PRISM/USDC LIQUIDITY FROM RAYDIUM
— PRISM (@prism_ag) December 16, 2022
Some users accuse the protocol of not having multisignature during the attack.
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so there was no multisig?
sorry for the losses.
But it seems like you brought it on yourself and just waited for that to happen.
— sol poor and bored (@DeChDAO) December 16, 2022
Additionally, some users have also become skeptical about the entire Solana ecosystem after the attack.
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Just when we think #Solana can’t get any worse, it surprises us!
— Helin ULKER (@beautyofhelin) December 16, 2022
Due to its deep ties to Sam Bankman-Fried’s investment empire, the Solana DeFi ecosystem was hit particularly hard by the FTX collapse.
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