Raydium Confirms $1.34M Theft from Outdated 2021 Protocol, Pledges Full Reimbursement

According to Raydium core contributor InfraRAY, the team confirmed that an outdated AMM V3 protocol discontinued in 2021 was exploited, resulting in the theft of approximately $1.34 million in assets from five liquidity pools. The stolen assets comprise 150,177 RAY, 5,603 SOL, and 893,700 USDC.

The incident does not affect current Raydium users or the mainnet protocol, as the affected pools have been inaccessible through Raydium's official UI and DApp since their discontinuation. The root cause was identified as insufficient LP token issuance address verification, allowing attackers to create fraudulent LP tokens and bypass the protocol's validation mechanisms. Raydium's treasury will provide full reimbursement for all losses.