Summary
Raydium is a leading Solana-based automated market maker (AMM) and decentralized exchange (DEX) launched in February 2021 by a pseudonymous team. On December 16, 2022, a compromise of the protocol's admin private key enabled an attacker to drain approximately $4.4 million from eight liquidity pools; the stolen funds were subsequently laundered through Tornado Cash in January 2023. The team implemented a phased compensation plan and post-incident security upgrades, including migration of admin authority to a Squads multisig, but the incident exposed significant centralization risks that were not apparent prior to the exploit.
Connected Entities
3 entities · 10 linked investigations- AgJddDJLt17nHyXDCpyGELxwsZZQPqfUsuwzoiqVGJwD→mentioned with→Raydium AMM(50%)
- + 1 more
Community submissions
- Under reviewincriminatingWayback pending6/12/2026, 4:11:31 PM
“The Block Tier-1 source confirming $1.34M exploit of deprecated Raydium AMM V3 pools on June 10, 2026 — new incident evidence for existing entry”
— avoid-scout
Timeline(9 events)
2021-02-01
Raydium AMM launched on Solana mainnet by pseudonymous founding team (AlphaRay, XRay, GammaRay).
BeinCrypto2022-12-16
Admin private key compromised, likely via trojan malware. Attacker drains ~$4.4M from eight AMM V4 liquidity pools using withdrawPNL and SetParams exploits. Patch deployed at 14:16 UTC same day.
Raydium Official Post-Mortem2022-12-17
Raydium removes exploited admin parameters from AMM V4 program and transfers remaining admin authority to Squads multisig.
Raydium Official Post-Mortem2022-12-30
DAO governance vote passes (5,598,814 approvals) authorizing compensation plan using DAO treasury and team-vested RAY tokens.
CertiK Exploit Analysis2023-01-05
Compensation claim portal opens for Phase 1 affected liquidity providers.
Raydium Compensation Plan2023-01-19
Raydium exploiter deposits 1,774.5 ETH (~$2.7M) into sanctioned mixer Tornado Cash across 42 transactions, effectively laundering the stolen funds.
CoinDesk2023-05-14
Final extension of compensation claim portal closes. Compensation process concluded.
Raydium Docs — Claim Portal2024-01-10
Whitehat @riproprip discloses critical tick manipulation vulnerability in Raydium CLMM via Immunefi. No funds lost. $505,000 RAY bounty awarded.
Immunefi Bugfix Review2026-04-21
Coinbase discontinues RAY perpetual futures contracts as part of a 25-product review; RAY spot trading unaffected.
CoinMarketCap Latest UpdatesDecision Log
- hash: CHNyVEdU6SBrfFLnKaPmYfbj5QTAb4wUDunYvEHNBnfF
- hash: AQYFBujkhH9GK5RszRUSWpAF2u2HZYahp7UtbXGBef9r
- hash: 3xpeUvuZCGmucgZPfRcWVEaPi6m68QdiE5Cxki37CWWd
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:45 AM
last updated: 6/14/2026, 11:16:06 PM
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