Raydium Exploited for $1.34M in Legacy AMM V3 Program

Raydium, one of Solana's largest decentralized exchanges, suffered a loss of around $1.34 million on June 10 due to an exploit in its legacy automated market maker (AMM) V3 program.

The attack targeted five dormant liquidity pools that had been inactive since 2021 and relied on a fake LP token mint that bypassed validation checks in the retired code.

Raydium stated that it will cover all losses from its treasury, while security firm PeckShield traced part of the stolen crypto through KuCoin and into Tornado Cash.