Solana-based DEX Raydium exploited for $2.2M

Solana-based decentralized speech Raydium has been exploited for $2.2 million. 

The attacker overtook the owner’s authorization connected the platform, according to the firm’s archetypal understanding.

An exploit connected Raydium is being investigated that affected liquidity pools. Details to travel arsenic much is known

⁰Initial knowing is proprietor authorization was overtaken by attacker, but authorization has been halted connected AMM & workplace programs for now
Attacker accnthttps://t.co/ZnEgL1KSwz

— Raydium (@RaydiumProtocol) December 16, 2022

Over $2.2M has been withdrawn from Raydium liquidity pools, including $1.6M successful SOL, according to the findings from the crypto analytics steadfast Nansen.

The wallet draining LP Pools from Raydium liquidity pools has received implicit $2.2M now, including $1.6M $SOL

Track here: https://t.co/IQedsOstPE pic.twitter.com/OAQJgaq5Mc

— Nansen Portfolio (@nansenportfolio) December 16, 2022

In effect to the exploit, firms based successful Solana, specified arsenic Compendium and Prism, are withdrawing their assets and advising their users to bash the same.

The Compendium Foundation is temporarily withdrawing $CMFI / $USDC / $SOL liquidity from Raydium successful effect to the caller exploit.

It seems similar the attacker gained entree to keys utilized to cod fees from LP pools and authorization has since been halted.

1/2

— Compendium (@CompendiumFi) December 16, 2022

There seems to beryllium a wallet is draining LP Pools from Raydium liquidity pools utilizing admin wallet arsenic a signer without having/burning LP tokens.

We withdrew protocol provided PRISM/USDC liquidity from Raydium

WITHDRAW YOUR PRISM/USDC LIQUIDITY FROM RAYDIUM

— PRISM (@prism_ag) December 16, 2022

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

so determination was nary multisig?
Sorry for the losses.
But it seems similar you brought it upon yourself and were conscionable waiting for this to happen.

— sol mediocre and bored (@DeChDAO) December 16, 2022

Further, immoderate users person besides go skeptical astir the full Solana ecosystem pursuing the attack. 

Just erstwhile we deliberation #Solana can't get worse, it finds a mode to astonishment us!

— Helin ULKER (@beautyofhelin) December 16, 2022

As a effect of its extended ties to the concern empire of Sam Bankman-Fried, the Solana DeFi ecosystem was deed peculiarly hard by the illness of FTX.

The station Solana-based DEX Raydium exploited for $2.2M appeared archetypal connected CryptoSlate.