#Giveaway  on last slide

Solana DeFi Exchange Raydium Hacked for Over $2 Million

Scribbled Arrow

TRENDING GLOBALLY

FOLLOW US:  @theinsaneapp

Solana Defi protocol Raydium announced that a hacker could gain access to the company's "owner authority" and then use this access to drain the liquidity pool of Raydium.

Twitter | Insatagram | Facebook

“

FOLLOW US:  @theinsaneapp

Defi tools let users trade, borrow, or lend crypto assets between them, without the need for intermediaries from third parties.

Twitter | Insatagram | Facebook

“

FOLLOW US:  @theinsaneapp

Automated market makers, like Raydium achieve this by allowing customers to contribute their assets to a pool to earn tokens.

Twitter | Insatagram | Facebook

“

FOLLOW US:  @theinsaneapp

A hacker has stolen more than $2.2 million worth of assets digitally from an account on Raydium, which includes $1.6 million of SOL.

Twitter | Insatagram | Facebook

“

FOLLOW US:  @theinsaneapp

The hacker has successfully carried out the attack using one of the protocol owners' private keys.

Twitter | Insatagram | Facebook

“

FOLLOW US:  @theinsaneapp

It's not known how the hacker gained access to this information.

Twitter | Insatagram | Facebook

“

FOLLOW US:  @theinsaneapp

Raydium can be described as one of Solana's most important financial protocols that are decentralized and is considered to be one of the foundations of Solana's Solana Defi network.

Twitter | Insatagram | Facebook

“

FOLLOW US:  @theinsaneapp

The vulnerability to this kind of exploitation prompted many within the Raydium community to suggest removing the protocol completely.

Twitter | Insatagram | Facebook

“

FOLLOW US:  @theinsaneapp

In the days following the hack, the native token RAY fell by just above 8% to $0.16.

Twitter | Insatagram | Facebook

“

#GIVEAWAY BY INSANE

Do you know that we give away around $500 USd in cash prizes every week?

Let’s grow together!