AMM-protocol Raydium on Solana was hacked in a cyberattack, with liquidity pools affected.
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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
According to the developers, the attackers gained control of the administrator’s address. Raydium representatives pledged to disclose details later.
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According to Nansen, an unknown actor received more than $2.2 million.
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The wallet draining LP Pools from Raydium liquidity pools has received over $2.2M now, including $1.6M $SOL
Track here: https://t.co/IQedsOstPE pic.twitter.com/OAQJgaq5Mc
— Nansen Portfolio (@nansenportfolio) December 16, 2022
OtterSec analysts noted that the incident did not resemble a smart-contract vulnerability, and classified it as a hack. In their words, the cause lies in a private key compromise.
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The signer on these transactions is `HggGrUeg4ReGvpPMLJMFKV69NTXL1r4wQ9Pk9Ljutwyv`, the hardcoded owner pubkey from the Raydium contracts.
In other words, the root cause is probably a private key compromise. pic.twitter.com/18HVSdDwyS
— OtterSec (@osec_io) December 16, 2022
In December, unknown attackers attacked the DeFi protocol Ankr and minted a large amount of aBNBc tokens. The price of the staking synthetic asset collapsed to zero.
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In November, losses across crypto projects from hacks amounted to $391.6 million, according to PeckShield. Much of the sum was attributed to the theft from the bankrupt FTX ($340 million) and the hack of Deribit’s hot wallet ($28 million).
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