Raydium is attacked, loses $2 million

The team said that authority over the automated market maker and farm programs have been paused, “for now.”

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

A twitter user who goes by the handle ZachXBT has reported that the attacker has bridged $2 million “so far” to Ethereum.

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.