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Solana-based DEX Raydium exploited for $2.2M, RAY token drops 10% Solana-based DEX Raydium exploited for $2.2M, RAY token drops 10%

Solana-based DEX Raydium exploited for $2.2M, RAY token drops 10%

The recent attack is yet another assault on the Solana ecosystem a month after the FTX collapse.

Solana-based DEX Raydium exploited for $2.2M, RAY token drops 10%

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Solana-based decentralized exchange Raydium hasย been exploited for $2.2 million.ย 

The attacker overtook the owner’s authority on the platform, according to the firmโ€™s initial understanding.

Over $2.2M has been withdrawn from Raydium liquidity pools, including $1.6M in SOL, according to the findings from the crypto analytics firm Nansen.

In response to the exploit, firms based in Solana, such as Compendium and Prism, are withdrawing their assets and advising their users to do the same.

Some users are accusing the protocol of not having a multisignature in the midst of the attack.ย 

Further, some users have also become skeptical about the entire Solana ecosystem following the attack.ย 

As a result of its extensive ties to the investment empire of Sam Bankman-Fried, the Solana DeFi ecosystem was hit particularly hard by the collapse of FTX.

RAY Price & Market Data

At the time of press, Raydium is ranked #470 by market cap and the RAY price is down 9.32% over the past 24 hours. RAY has a market capitalization of $27.15 million with a 24-hour trading volume of $5.34 million. Learn more about RAY ›

Raydium

16 Dec at 4:13 pm UTC

$0.16

-9.32%

RAYUSD Chart by TradingView

Market summary

At the time of press, the global cryptocurrency market is valued at at $820.49 billion with a 24-hour volume of $39.32 billion. Bitcoin dominance is currently at 39.69%. Learn more ›