Raydium is attacked, loses $2M

Solana-based decentralized finance protocol Raydium has suffered an exploit, according to a statement from the developer. An initial investigation by the team revealed that the attacker took over the exchange’s owner account. The team said that “authority” over the automated market maker and farm programs has been paused “for now.”

Twitter user and researcher ZachXBT reported that the attacker has bridged $2 million to Ethereum “so far.”

An exploit on Raydium is being investigated that affected liquidity pools. Details to follow as more is known

⁰Initial understanding is owner authority was overtaken by attacker, but authority has been halted on AMM & farm programs for now
Attacker accnthttps://t.co/ZnEgL1KSwz

— Raydium (@RaydiumProtocol) December 16, 2022

This is a breaking story and will be updated as new information comes in.