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Scam Alert

Solana’s Hack Story Continues With Raydium Protocol

December 17, 2022 - Around 2 mins mins to read
Radiyum Protocol, an order book Automated Market Maker (AMM) on the Solana [SOL] network, was compromised. According to reports, the hacker took money out of different Raydium liquidity pools without having any LP tokens of their own or burning them.
Solanas Hack Story Continues With Raydium Protocol

The team at Radium Protocol was able to determine how the attack was carried out with the assistance of other organizations. The hacker allegedly assumed owner rights, giving him access to these monies.

The assault started when a compromised private key and a Trojan attack were sent to the pool’s owner account. The hacker used the owner’s account to call a code that gathered protocol and trading fees after gaining access.

The hacker used an extensive list of pools as targets. The SOL-USDC, SOL-USDT, and RAY-USDC pools were a few of them. The hacker left behind a total of about $4.3 million in money.

Next steps for Solana

Solana

The owner power of the account was revoked by Raydium Protocol right away. The developers have retained 10% of the total amount taken as a bounty in an effort to encourage the attacker to return the money. The hackers would get the reward in their account if they returned the money.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Annie

CoinCu News

AMM

Automated Market Maker

raydium protocol

SOL

Solana

Solana’s Hack Story

Author

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
Scam Alert

Solana’s Hack Story Continues With Raydium Protocol

Radiyum Protocol, an order book Automated Market Maker (AMM) on the Solana [SOL] network, was compromised. According to reports, the hacker took money out of different Raydium liquidity pools without having any LP tokens of their own or burning them.
Solanas Hack Story Continues With Raydium Protocol

The team at Radium Protocol was able to determine how the attack was carried out with the assistance of other organizations. The hacker allegedly assumed owner rights, giving him access to these monies.

The assault started when a compromised private key and a Trojan attack were sent to the pool’s owner account. The hacker used the owner’s account to call a code that gathered protocol and trading fees after gaining access.

The hacker used an extensive list of pools as targets. The SOL-USDC, SOL-USDT, and RAY-USDC pools were a few of them. The hacker left behind a total of about $4.3 million in money.

Next steps for Solana

Solana

The owner power of the account was revoked by Raydium Protocol right away. The developers have retained 10% of the total amount taken as a bounty in an effort to encourage the attacker to return the money. The hackers would get the reward in their account if they returned the money.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Annie

CoinCu News