Raydium Hacker Swaps $2.5 Million in Stolen Crypto From Solana to Ethereum

Solana-based decentralized exchange Raydium was exploited on Friday for around $2.5 million in digital assets, the project confirmed via a Twitter thread.

According to the Solana DEX, the project’s admin wallet was compromised and liquidity pool (LP) tokens were withdrawn without the team’s authorization. Raydium said the exploiter assumed “owner authority” in order to drain funds from the LP.

Nansen confirmed that LP tokens were stolen from the Solana DEX, including some $⅙ million in SOL. Further investigations into the matter are underway, said the team.

At the time of the attack, the attacker held around $2 million in crypto. On-chain investigator ZachXBT noted that the exploiter moved the assets from Solana’s network to Ethereum, the largest altcoin blockchain.

Etherscan data showed around $2.5 million in crypto sitting in the Raydium exploiter’s Ethereum wallet address here.

Ethereum $3,007.00

-0.57%

Solana Ethereum

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