Raydium Exploited for $1.34M in Deprecated Program; Treasury to Reimburse All Users
11 Jun 2026 · 07:17 UTC · CoinCentral RSS Feed · Original source
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Summary
An attacker exploited a deprecated Raydium AMM program from 2021 on Solana, draining approximately $1.34 million from five inactive liquidity pools. Stolen assets included around 150,000 RAY tokens, 5,600 SOL, and 893,700 USDC. Raydium confirmed it will fully reimburse all affected users from its treasury. Security firm PeckShield traced portions of the stolen funds. The vulnerability affected legacy code no longer in active use, and Raydium emphasized that current pools and user funds remain secure.
Why it matters
The primary mechanism is classic risk-off dynamics: negative news triggers initial selling pressure on affected tokens and related assets, followed by recovery as fundamental safeguards are clarified. Raydium's treasury reimbursement commitment is critical—users know they will be made whole, eliminating worst-case scenarios. Targeting deprecated 2021-era code reduces systemic risk perception, signaling a legacy vulnerability rather than a design flaw. Bitcoin impact is minimal; macro-traders view this as uncorrelated to Solana incidents. For ALT tokens, impact is pronounced in minute/hour timeframes as news breaks, with moderate confidence (0.62-0.72) due to uncertainty about panic depth and institutional response timing. Key assumptions: market efficiently incorporates reimbursement within 1-2 hours, no cascading issues emerge, traditional media doesn't amplify. Uncertainties include Solana confidence recovery speed and whether this triggers broader ecosystem code scrutiny.
Expected impact
The Raydium exploit creates short-term volatility in Solana ecosystem tokens (SOL, RAY) due to security concerns, with initial panic selling likely in the first 1-2 hours. However, Raydium's immediate commitment to fully reimburse affected users significantly mitigates long-term damage. The exploit targeted a deprecated AMM program from 2021—no longer active—further limiting reputational harm and supporting faster recovery. Bitcoin is largely insulated, experiencing only minor sympathy selling as traders reassess crypto risk sentiment. The $1.34M loss is immaterial relative to broader market capitalization. For altcoins, elevated volatility should subside within 1-2 trading sessions as the market incorporates the reimbursement commitment and recognizes limited systemic risk. Overall, this represents a contained security incident with transparent remediation.