Solana-based exchange Raydium is subject to a $4.4 million loss

Raydium, a decentralized exchange located in Solana, disclosed an exploit. The team assessed that stolen property valued at $4,400,000 was taken.

A hacker compromised Raydium, a decentralised exchange based on the Solana blockchain. The adversary was able to extract liquidity pool (LP) tokens into their possession. Raydium recognised the issue and said that it believes an attacker got control of the admin address of the exchange.

The team assessed in a post-mortem analysis that $4.4 million worth of crypto assets were taken during the event. “The attacker infiltrated eight continuous product liquidity pools on Raydium, resulting in the theft of about $4.4 million,” the report said.

Otter, a security company, analysed the occurrence and concluded that a compromised private key may have been responsible for the exploit.

Raydium said that it was still conducting an investigation to identify the origin and underlying cause of the breach. It was hypothesised that the attacker attacked an internal server with “trojan” malware to hack Raydium’s underlying code.

“A possible entry point for the attacker is the virtual machine or internal site where the account was set up. The precise channel of infiltration has not yet been determined, although a trojan assault is a possibility “the group said. Raydium is giving the hacker a 10% reward for returning the stolen funds. According to statistics from DeFiLlama, Raydium still possesses over $30 million worth of crypto assets.

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