Raydium DEX Exploit Results in $1.34 Million Loss from Legacy AMM Program

Raydium, a Solana-based decentralized exchange, reported a $1.34 million exploit affecting its retired AMM V3 program. The attack targeted inactive liquidity pools, draining assets including 150,000 RAY, 5,600 SOL, and nearly 900,000 USDC. The vulnerability was due to insufficient validation of LP mints, enabling the attacker to bypass proportion checks. Raydium confirmed that current users and active programs were not impacted, and all losses will be covered by its treasury. The DEX's native RAY token experienced minimal market impact, trading up over 2% on the day. A separate security review of the current mainnet programs is underway.

Key Points: • Raydium lost $1.34 million due to an exploit in its legacy AMM V3 program. • The attack exploited a validation flaw that allowed bypassing of proportion checks. • Raydium will reimburse all affected users from its treasury.