Solana Exchange Raydium Hit With $1.34 Million Exploit as DeFi Attacks Grow
Solana-based decentralized exchange Raydium will repay the funds swiped in the $1.34 million exploit using its treasury.
Crypto Briefing·
Helius' acquisition of Light Protocol could enhance Solana's appeal to traditional finance by integrating privacy, but regulatory risks loom. The post Helius acquires Light Protocol to build Solana’s onchain privacy layer appeared first on Crypto Briefing.
Read full articleSolana-based decentralized exchange Raydium will repay the funds swiped in the $1.34 million exploit using its treasury.
Raydium (RAY), a decentralized exchange on the Solana (SOL) blockchain, said Wednesday that it had suffered a $1.34 million exploit tied to its retired automated market maker, or AMM, V3 program. Raydium Pools Drained The protocol said the attacker removed about 150,000 RAY, 5,600 SOL, and nearly 900,000 of Circle’s USDC stablecoin from Raydium pools involving RAY-SOL, USDC-RAY, and SRM-RAY. Raydium attributed the compromise to a weakness in how the older AMM V3 handled liquidity provider (LP) mints. The platform said the vulnerability “stemmed from insufficient validation of the LP mints, which in practice allowed the attacker to bypass intended proportion checks. Related Reading: Prediction Markets’ Wild West Days May Be Over: CFTC Drafts Its First Major Framework According to the description of the mechanism, because the legacy AMM V3 program did not properly verify the LP mint address, an attacker was able to create a new mint and use it as the LP token, letting it evade the chec
The integration of leveraged tokenized equities on Solana could democratize access to complex financial instruments, enhancing DeFi's appeal. The post Jupiter Exchange adds leveraged tokenized equities from Shift RWA on Solana appeared first on Crypto Briefing.
Solflare Packs could boost USDC transactions on Solana but may face regulatory scrutiny and trust issues due to its gacha model and centralized elements. The post Solflare launches Solflare Packs, bringing graded card trading directly into your crypto wallet appeared first on Crypto Briefing.
Kalshi has added Solana perpetual futures to its regulated crypto derivatives lineup, while several other altcoin contracts, including Dogecoin and Shiba Inu, remain under regulatory review. According to a June 10 post by Kalshi on X, SOL perpetual futures are…
SOL looks "absolutely bullish" at the moment, one analyst claimed.
Raydium has pledged to fully reimburse losses after an exploit drained approximately $1.3 million from five legacy liquidity pools built on Solana. According to blockchain security firm PeckShield and on-chain investigator Specter, the attack targeted retired automated market maker infrastructure…
The accelerator's launch could significantly boost innovation and investment in Solana's ecosystem, enhancing London's tech landscape. The post Fabric Ventures and Wintermute launch London accelerator offering $300K to Solana founders appeared first on Crypto Briefing.