Raydium (RAY), a decentralized exchange on the Solana (SOL) blockchain, said 
Wednesday that it had suffered a $1.34 million exploit tied to its retired 
automated market maker, or AMM, V3 program. Raydium Pools Drained The protocol 
said the attacker removed about 150,000 RAY, 5,600 SOL, and nearly 900,000 of 
Circle’s USDC stablecoin from Raydium pools involving RAY-SOL, USDC-RAY, and 
SRM-RAY. Raydium attributed the compromise to a weakness in how the older AMM 
V3 handled liquidity provider (LP) mints. The platform said the vulnerability 
“stemmed from insufficient validation of the LP mints, which in practice 
allowed the attacker to bypass intended proportion checks. Related Reading: 
Prediction Markets’ Wild West Days May Be Over: CFTC Drafts Its First Major 
Framework According to the description of the mechanism, because the legacy 
AMM V3 program did not properly verify the LP mint address, an attacker was 
able to create a new mint and use it as the LP token, letting it evade the 
checks that were supposed to control how assets could be accounted for in the 
Raydium pools. The exchange emphasized that the affected AMM V3 program was no 
longer available through Raydium’s interface, explaining that the legacy AMM 
V3 program was phased out in 2021 and was effectively unreachable via 
Raydium’s current user tools. Funds Traced Across Two Blockchains Details on 
the alleged laundering trail were provided by PeckShield, which described how 
the attacker’s funds were initially funded via KuCoin and then bridged from 
Solana to Ethereum (ETH). Related Reading: Treasury Stablecoin Proposal Draws 
Major Warning From Hyperliquid Policy Center–Here’s Why PeckShield said that 
810 ETH had already been sent to Tornado Cash, and that 7 ETH had been moved 
to FixedFloat, framing both moves as part of an active effort to launder the 
Raydium funds. In Raydium’s own breakdown of the exploit, the firm reiterated 
that its current programs were unaffected by the incident, and said it is in 
the middle of security review work on all mainnet programs by Raydium core 
contributors. Featured image created with OpenArt; chart from TradingView.com

Raydium (RAY), a decentralized exchange on the Solana (SOL) blockchain, said Wednesday that it had suffered a $1.34 million exploit tied to its retired automated market maker, or AMM, V3 program. Raydium Pools Drained The protocol said the attacker removed about 150,000 RAY, 5,600 SOL, and nearly 900,000 of Circle’s USDC stablecoin from Raydium pools &#8230;

Raydium DEX’s AMM Program Exploited For $1.34 Million — Here’s What Went Wrong

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markets, impacting oil prices and increasing scrutiny on crypto exchanges.
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conflict appeared first on Crypto Briefing.

The escalation in military actions and sanctions could destabilize global markets, impacting oil prices and increasing scrutiny on crypto exchanges. The post Trump vows to resume bombing Iran &#8216;very hard&#8217; amid escalating conflict appeared first on Crypto Briefing.

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The amended licenses could reshape global oil dynamics, offering economic 
leverage while navigating complex geopolitical and regulatory landscapes.
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in oil sector appeared first on Crypto Briefing.

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As Bitcoin (BTC) hovers near its lowest levels since late 2024, a market 
observer suggests the flagship crypto may not have finished bottoming yet, 
with more downside potentially ahead. Related Reading: XRP Sees Intense 
Capitulation As Realized Profit-To-Loss Ratio Plunges BTC’s Historical Data 
Points To Longer Correction On Wednesday, analyst Rekt Capital compared 
Bitcoin’s current price action to its performance in previous cycles to 
determine how close the leading crypto’s market bottom may be. In a video 
analysis on X, the market watcher explained that BTC’s deviations from 
previous all-time highs (ATHs) could serve as key reference points for this 
assessment. Notably, Bitcoin bottomed 22% from the 2017 peak during the last 
cycle’s correction. Now, it is trading roughly 14% below the 2021 peak of 
$69,000, which could suggest the bottom may be approaching. However, the 
analyst affirmed that this metric alone “doesn&#8217;t represent the mosaic of data 
that we need to be paying attention to.” He stated that the length of previous 
bear markets is a crucial indicator to factor in, noting that, historically, 
Bitcoin bear markets tend to last at least one year, sometimes extending 
beyond that. For instance, the flagship crypto took approximately 365 days to 
complete its full corrective phase during the 2021-2022 bear market. The 
current pullback has lasted about 240 days so far, which would depart from 
historical behavior and make it significantly shorter than previous cycles if 
the bottom is already in or close. If the current cycle follows a similar 
timeline to previous ones, BTC could have at least 120 days left in its 
corrective phase, with the bottom likely occurring around October and the 
possibility of further extension if the cycle mirrors longer historical 
patterns. Bitcoin Bottom Another 20% Below? The analyst highlighted that while 
the duration of the bear market is important, the depth of its retracement is 
another crucial factor. Last cycle, Bitcoin dropped 77%, while it declined 84% 
during its 2018 bear market. Nonetheless, the pullback has only reached 53% so 
far this cycle, suggesting there may still be room for additional downside. 
Based on this, he emphasized the trend of shallower bear markets, with the 
correction’s depth progressively diminishing roughly 7%-10% each cycle. If 
this pattern repeats, Bitcoin could see a potential retracement near 70% this 
cycle, placing BTC’s bottom in the high $30,000 range. Meanwhile, if the 
shallowing trend accelerates toward a 10% reduction, the bottom could form 
near the low $40,000 region. Related Reading: Bitmine Makes Largest Ethereum 
Purchase Of 2026 As Tom Lee Dismisses Market Selloff These factors point to a 
critical period over the next four to five months, the analyst affirmed, in 
which another leg down of up to 20% remains possible. He noted that similar 
phases have historically included periods of consolidation followed by 
additional declines before the final bottom forms. Ultimately, Rekt Capital 
asserted that this period is crucial as it lays the foundation for the next 
bull cycle. “This bear market here (…) precedes an entire period of multi-year 
upside. And I think that’s why it&#8217;s important, as a result, to focus on the 
importance of this bear market bottoming out period over these next few months 
because we’ll then see a multi-year period of upside,” he concluded. Featured 
Image from Unsplash.com, Chart from TradingView.com

As Bitcoin (BTC) hovers near its lowest levels since late 2024, a market observer suggests the flagship crypto may not have finished bottoming yet, with more downside potentially ahead. Related Reading: XRP Sees Intense Capitulation As Realized Profit-To-Loss Ratio Plunges BTC’s Historical Data Points To Longer Correction On Wednesday, analyst Rekt Capital compared Bitcoin’s current &#8230;

More Pain For Bitcoin? Analyst Explains Why BTC’s Bottom May Be Months Away

The surge in foreign investment reshapes US industries, impacts crypto 
volatility, and highlights tariffs&#8217; role in global capital allocation.
The post Foreign investment in US surges to $232B after four-year decline 
appeared first on Crypto Briefing.

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Raydium DEX’s AMM Program Exploited For $1.34 Million — Here’s What Went Wrong

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