Raydium to reimburse $1.3M lost in exploit of legacy Solana liquidity pools

Raydium announced it will fully reimburse users after an exploit drained about $1.3 million from five legacy liquidity pools on Solana. The attacker exploited outdated automated market maker code using a fake mint address to steal RAY, SOL, and USDC tokens. The stolen funds were partially traced moving through privacy tools like Tornado Cash, complicating recovery efforts. Raydium confirmed that active pools and current users were unaffected, and the project treasury will cover all losses from the deprecated pools to protect users.