The Raydium DEX on Solana reported that an old AMM V3 program was exploited on Wednesday, resulting in approximately $1.34 million worth of assets being withdrawn from several inactive liquidation pools.
The affected pools include RAY- SOL, USDC-RAY, and SRM-RAY. Initial estimates suggest the attacker withdrew approximately 150,000 RAY, 5,600 SOL , and nearly 900,000 USDC. Raydium stated that all losses will be offset from the project's Treasury .
According to Raydium, the issue only affected an AMM program that was discontinued in 2021 and has since been inaccessible through the Raydium interface. The project asserts that current users are not affected, and states that Raydium 's SDK and dApp do not support mainnet interaction with these older V3 AMM pools.
The vulnerability is believed to stem from the contract not adequately verifying information related to the LP Token , allowing attackers to bypass the asset ratio check within the pool.
Raydium stated that its current mainnet programs are unaffected and are undergoing a separate security review. The exchange's RAY Token was largely unaffected by the incident, even rising by more than 2% on the day.
The article "Raydium promises to compensate for losses after old AMM was hacked for $1.34 million" first appeared on CoinMoi .
