Raydium's legacy AMM V3 exploited, $1.34M drained from deprecated liquidity pools, current users safe.

Raydium, a Solana-based decentralized exchange, discovered a coding flaw in its deprecated AMM V3 program that allowed an attacker to drain about $1.34 million from five old liquidity pools. The exploit involved creating fake liquidity provider tokens due to inadequate validation in the legacy code, but current users and active pools were unaffected as the vulnerable program was no longer in use. Raydium plans to fully reimburse losses from its treasury and is conducting a thorough security review of its mainnet programs. Despite the hack, Raydium's token price rose slightly, though broader DeFi exploits have raised concerns about security in the space.