A community for the latest discussions about the cutting edge of crypto design, it's culture and significant crypto news. Decentralize everything. Check out our [Community Guidelines](https://relevant.community/crypto/post/6122269e61d1cd005a877277/62427d3ed587ad005b647828)
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© 2020 Relevant Protocols Inc.
A community for the latest discussions about the cutting edge of crypto design, it's culture and significant crypto news. Decentralize everything. Check out our [Community Guidelines](https://relevant.community/crypto/post/6122269e61d1cd005a877277/62427d3ed587ad005b647828)
53218 Members
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© 2020 Relevant Protocols Inc.
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The latest entry on our leaderboard comes from a post-FTX wasteland, once a promising hive of VC-backed dev activity. On Friday, Raydium, a Solana-based AMM, lost a total of ~$4.4M in fees from its liquidity pools. The alarm was raised by the DEX aggregator PRISM, also on Solana: There seems to be a wallet is draining LP Pools from Raydium liquidity pools using admin wallet as a signer without having/burning LP tokens. We withdrew protocol provided PRISM/USDC liquidity from Raydium WITHDRAW YOUR PRISM/USDC LIQUIDITY FROM RAYDIUM The official announcement came 40 minutes later, stating that “authority has been halted on AMM & farm programs for now”. In a follow-up post, the team assured users that “a patch is in place preventing further exploits from the attacker.” While this incident doesn’t look to have caused a total protocol meltdown, losing millions is never a good look. But who’s still using Solana anyway?
The latest entry on our leaderboard comes from a post-FTX wasteland, once a promising hive of VC-backed dev activity. On Friday, Raydium, a Solana-based AMM, lost a total of ~$4.4M in fees from its liquidity pools. The alarm was raised by the DEX aggregator PRISM, also on Solana: There seems to be a wallet is draining LP Pools from Raydium liquidity pools using admin wallet as a signer without having/burning LP tokens. We withdrew protocol provided PRISM/USDC liquidity from Raydium WITHDRAW YOUR PRISM/USDC LIQUIDITY FROM RAYDIUM The official announcement came 40 minutes later, stating that “authority has been halted on AMM & farm programs for now”. In a follow-up post, the team assured users that “a patch is in place preventing further exploits from the attacker.” While this incident doesn’t look to have caused a total protocol meltdown, losing millions is never a good look. But who’s still using Solana anyway?
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