Raydium commits to cover losses as hacker drains $1.3M from legacy pools - Cryptopolitan

Crypto Insight Summary: * The attacker used fake LP tokens to impersonate a liquidity provider and withdraw entire pool balances. * Raydium says current users and active pools were unaffected, as the vulnerable pools had been inactive since 2021. * Raydium has pledged to fully reimburse affected liquidity providers and is reviewing all of its mainnet programs for vulnerabilities. **A hacker has exploited a vulnerability in Raydium’s legacy AMM V3 program, draining approximately $1.34 million from five liquidity pools that had been deprecated since 2021.** The Raydium team confirmed it was aware of the unauthorized liquidity removal and committed to covering losses. The attack targeted code that the Solana-based decentralized exchange phased out five years ago. According to [Infra](https://x.com/0xINFRA/status/2064738005697384476), a Raydium team member, no current users were affected because the pools had been inaccessible through the platform’s interface for years. Blockchain security firm F12 corroborated the submissions, tracing the attack on-chain. [PeckShieldAlert reported](https://x.com/PeckShieldAlert/status/2064729285894852609) that the attacker’s wallet was initially funded through KuCoin. After draining the pools on Solana, they bridged the stolen funds to Ethereum via deBridge, yielding roughly 810 ETH. They then moved 7 ETH through FixedFloat, according to PeckShieldAlert’s analysis. Crypto Insight Analysis: Direction: Neutral Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: Attack on legacy pools has minimal impact on Raydium's current operations and user funds.