Solana’s woes continue as the Raydium protocol, an automated market maker (AMM) on the Solana (SOL) network was hacked on December 16.
Raydium, a Solana DeFi protocol was hacked for over $2 million early on Friday. According to reports, the hacker extracted funds from multiple Raydium liquidity pools without owning or burning any liquidity provider (LP) tokens. It appears that the hacker used the protocol’s own private keys to drain liquidity pools, but it remains unclear how they got them. The attacker managed to overtake the organization’s “owner authority” and used that access to begin draining Raydium’s liquidity pools. According to reports by Decrypt, DeFi tools allow users to borrow, lend and trade crypto assets with each other without the need for third-party intermediaries. AMMs such as Raydium achieve this by letting users contribute assets to a pool often in exchange for token rewards.
Over $2 Million was Drained
Raydium confirmed the hack via Twitter and added t
We współpracy z: https://cryptodaily.co.uk/2022/12/solana-protocol-raydium-hacked-for-over-2-million
