Raydium DEX Suffers $1.34M Exploit, Treasury Covers Losses

Decentralized exchange Raydium has reported a significant exploit targeting its retired Automated Market Maker (AMM) program, resulting in a loss of $1.34 million. The exchange has confirmed that its treasury will absorb the financial impact of this security breach, ensuring that users are not directly affected by the stolen funds. This incident highlights ongoing vulnerabilities within decentralized finance protocols, even those that have been phased out. Raydium is reportedly investigating the root cause to prevent future occurrences and reinforce its security measures across all active programs.