Raydium Loses $1.34M After Exploit of Deprecated AMM Pools

On Wednesday an attacker drained $1.34 million from Solana-based decentralized exchange Raydium by exploiting five deprecated AMM V3 liquidity pools. The hacker removed roughly $900,000 in USDC, about $357,000 in SOL and $86,000 in RAY.

Raydium contributors wrote that the exploit targeted legacy automated market maker code that had been phased out of the platform’s user-facing interface. The attacker bypassed validation checks in the old AMM V3 program, minted new liquidity provider tokens without depositing corresponding assets, then withdrew and converted the positions. The exploiter’s Solana address ends in “Bq33QVk.”

A pseudonymous Raydium contributor known as 0xInfra posted on X: “No current users of Raydium are affected by this exploit or would have been able to interact with these pools through the UI since their deprecation.” The team noted the affected pools were deprecated and not accessible from Raydium’s current front end.

Raydium’s maintainers said the protocol’s treasury will cover the loss. They added that the incident was not caused by a key compromise or an authority-level breach and that current mainnet programs include protections against the same class of vulnerability. The team said it will continue investigating the attack vector.

Deprecated contracts remain on-chain even after being removed from a project’s UI, and outdated validation or permission checks can leave those contracts vulnerable. The exploit follows a series of high-profile DeFi incidents earlier this year affecting Solana projects and other networks. Raydium’s team reported there is no evidence AI tools were used in this specific attack.

Market reaction was limited. Raydium’s native token RAY fell about 2% in the 24 hours after the disclosure and roughly 13% over the prior week; the token remains far below its all-time high.