Raydium announces details of hack, proposes compensation for victims By Cointelegraph
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The team behind the Raydium decentralized exchange (DEX) has announced details as to how the hack of Dec. 16 occurred and offered a proposal to compensate victims.
According to an official forum post from the team, the hacker was able to make off with over $2 million in crypto loot by exploiting a vulnerability in the DEX’s smart contracts that allowed entire liquidity pools to be withdrawn by admins, despite existing protections being to prevent such behavior.
Continue Reading on Coin Telegraph
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The team behind the Raydium decentralized exchange (DEX) has announced details as to how the hack of Dec. 16 occurred and offered a proposal to compensate victims.
According to an official forum post from the team, the hacker was able to make off with over $2 million in crypto loot by exploiting a vulnerability in the DEX’s smart contracts that allowed entire liquidity pools to be withdrawn by admins, despite existing protections being to prevent such behavior.
Continue Reading on Coin Telegraph
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