Summary

  • Raydium, a decentralized exchange on Solana, experienced an exploit resulting in a loss of $1.34 million.
  • The attack targeted five outdated liquidity pools from an earlier version of its automated market maker.
  • This incident is part of a concerning trend of rising exploits and vulnerabilities in decentralized finance, some potentially exacerbated by AI tools.

On Wednesday, decentralized exchange Raydium, which operates on the Solana blockchain, faced a hacking incident that resulted in the theft of over $1.34 million. The exploit involved five outdated liquidity pools from a previous version of its automated market maker program.

The breach specifically affected the company’s legacy automated market maker, leading to the loss of Solana (SOL), the USDC stablecoin, and the exchange's native asset, RAY.

According to a pseudonymous contributor to Raydium, 0xInfra, “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The attacker, identified by a Solana address ending in “Bq33QVk,” exploited flaws in the outdated program's validation processes, allowing them to create new liquidity provider tokens. The total stolen included nearly $900,000 in USDC, around $357,000 in SOL, and $86,000 in RAY, which will be reimbursed using the company’s treasury funds.

Raydium is aware of an exploit involving unauthorized removal of liquidity from its legacy AMM V3 program which was previously phased out in 2021.

No current users of Raydium are affected by this exploit or would have been able to interact with these pools through the UI since…

— Infra | Raydium (@0xINFRA) June 10, 2026

0xInfra indicated that the firm's current mainnet programs are designed to prevent such vulnerabilities, clarifying that this incident was not a result of any key compromise or authority-level issue.

This exploit adds to a troubling trend of vulnerabilities surfacing within crypto networks and DeFi protocols in recent times. In April, both KelpDAO and the Solana-based Drift Protocol suffered attacks that resulted in losses nearing $300 million.

Last week, the privacy network Zcash saw its token plummet over 40% within a single day after it was revealed that a security researcher had utilized an AI model to uncover a four-year-old vulnerability affecting one of its privacy pools.

While there is currently no evidence linking AI to the Raydium exploit, analysts told Decrypt in May that AI is changing the landscape of exploit discovery by automating tasks typically performed by skilled auditors.

Interestingly, the exploit occurred just a day after Anthropic, a private AI company, released an upgraded version of its cybersecurity-focused model, Mythos, which claims to possess “unprecedented cybersecurity capabilities.” They also introduced a limited public version called Claude Fable 5, which has faced backlash for its reduced functionality.

In light of this incident, Raydium’s native token has fallen about 2% in the last 24 hours, currently trading at $0.567. Over the past week, the token has dropped approximately 13% amid a broader market decline and is now down 96.6% from its peak of $16.83.