Solana-based decentralized exchange Raydium has been mined for $2.2 million.

youThe attacker seized the owner’s authority on the platform, according to the firm’s initial understanding.

More than $2.2 million has been withdrawn from Raydium’s liquidity pools, including $1.6 million in SOL, according to findings by cryptanalysis firm Nansen.

In response to the exploit, Solana-based companies such as Compendium and Prism are removing their assets and advising their users to do the same.

Some users are accusing the protocol of not having a multi-signature in the middle of the attack.

Furthermore, some users have also become skeptical of the entire Solana ecosystem following the attack.

As a result of its extensive ties to Sam Bankman-Fried’s investment empire, Solana’s DeFi ecosystem was hit particularly hard by the FTX crash.

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This post Solana-based Raydium DEX mined for $2.2 million, RAY token drops 10%

was published first on https://cryptoslate.com/solana-based-dex-raydium-exploited-for-2-2-million/

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