Raydium Decentralized Finance Protocol on Solanasufferedfrom being attacked According to the developer’s statement The preliminary investigation by the team revealed that The attackers took control of the exchange’s owner account, and the team said its “power” over the automated market maker and farm program was paused “for now.”
Twitter user and researcher ZachXBT. report“So far,” the attacker has bridged $2 million to Ethereum.
Raydium administrator account can alsopostNearly 1000 transactions transferred to the Solana network.
by individual transaction Has pulled liquidity out of Raydium without depositing any associated LP tokens. which will seize the liquidity provider’s money in their possession A variety of tokens were used in the attack, including US Dollar Coin (USDC), Wrapped SOL (wSOL), Raydium, and others.
This vulnerability appears to have been first discovered by the Prism development team, where they posted a warning that attackers are stealing liquidity out of Raydium without depositing and burning LP tokens. Immediately withdraw Prism and USDC tokens from the exchange.
There seems to be a wallet is draining LP Pools from Raydium liquidity pools using admin wallet as 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
40 minutes later, the Raydium team took to Twitter to confirm it had been hacked. According to audit firm Ottersec, attackers stole money by:runThe withdraw_pnl function in the contract, which developers use to withdraw fees. And the company does not say that this function can be used to withdraw all or a small amount of liquidity from the pools.
Nansen Portfolio, a crypto analytics firm, has confirmed that more than $2.2 million has been made by attackers.
Raydium’s team is still investigating the attack and has yet to announce whether compensation will be offered to the victims of the attack.
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