This Solana-Based Decentralized Exchange Was Just Exploited Heres What Happened

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• The Blockchain.com Exchange app gives you everything you need to easily and securely trade crypto on the go.
• Raydium is one of Solana’s largest decentralized finance protocols and is considered one of the cornerstones of the Solana DeFi ecosystem.
• Moreover, after theFTX exchange was hackedin mid-November, it was revealed that the private keys to Solana decentralized exchange and liquidity provider Serum were also housed on the exchange.
• As of now, there is over $31.7 million worth of assetslockedon the protocol, according to data by DeFiLlama.
• The Solana DeFi ecosystem was hit especially hard by the collapse of the FTX exchange due to its heavy ties to the Sam Bankman-Fried trading and investment empire.
• We understand how important having reliable support service is to you.

In DeFi, a liquidity pool is a collection of user funds locked in a smart contract and accumulated to enable trading on a DEX. Liquidity pools help to maintain liquidity on a network by rewarding users who contribute assets to the pool. Moreover, after theFTX exchange was hackedin mid-November, it was revealed that the private keys to Solana decentralized exchange and liquidity provider Serum were also housed https://xcritical.com/ on the exchange. Subsequently, the developers of the project announced they are working on forking Serum’s code as many projects rushed to cut ties to Serum. Raydium is one of Solana’s largest decentralized finance protocols and is considered one of the cornerstones of the Solana DeFi ecosystem. As of now, there is over $31.7 million worth of assetslockedon the protocol, according to data by DeFiLlama.

App Privacy

The DEX had over $2.2 billion in TVL at its all-time high in mid-November 2021. Safety starts with understanding how developers collect and share your data. Data privacy and security practices may vary based on your use, region, and age. According to crypto research company Nansen, the attacker wallet hasreceivedover $2.2 million worth of crypto exchange software solutions tokens, including $1.6 million in SOL, the native token of the Solana blockchain. Exchange.blockchain.com needs to review the security of your connection before proceeding. The Solana DeFi ecosystem was hit especially hard by the collapse of the FTX exchange due to its heavy ties to the Sam Bankman-Fried trading and investment empire.

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