Solana news: Raydium Exploit Drains $1.3 Million From Legacy Solana Pools
Raydium Exploit Targets Legacy Solana Pools
On 10 June 2026, decentralised exchange Raydium experienced a security breach that resulted in the loss of approximately $1.3 million from five legacy liquidity pools on the Solana blockchain. The incident was flagged by blockchain security firm PeckShield and on-chain investigator Specter.
Details of the Exploit
The attacker exploited a validation flaw in Raydium’s retired automated market maker (AMM) code. By using a fake mint address, the attacker was able to withdraw liquidity from dormant pools that were no longer in active use. The stolen assets included around 150,177 RAY, 5,603 SOL, and 893,700 USD Coin (USDC).
Funds were initially sourced via KuCoin and subsequently moved to Ethereum. PeckShield traced 810 ETH to Tornado Cash and another seven ETH to FixedFloat, making recovery efforts more complex.
Raydium’s Response and User Impact
Raydium confirmed that only deprecated pools were affected, with no impact on current users or active pools. The team has pledged to fully reimburse all affected assets from its treasury. This approach mirrors Raydium’s response to a previous incident in December 2022, when a governance vote was used to compensate liquidity providers after a separate exploit.
Market Reaction and Security Context
The market response was muted, with the RAY token price declining by less than 1% in the 24 hours following the breach. The incident underscores the importance of deprecating and securing legacy smart contract code in DeFi protocols.
Why This Matters for the UK Solana Community
Security remains a critical concern for decentralised finance platforms operating on Solana. UK-based developers, users, and institutions engaging with Solana DeFi should be aware of the risks associated with legacy code and the importance of robust security practices. The incident also highlights the need for ongoing vigilance as the UK explores regulatory frameworks for digital assets and DeFi platforms.
