Daily Crypto Briefs 
CASABLANCA, June 10, 2026
Raydium said an exploit removed liquidity from its legacy AMM V3 program on Solana, with independent reports putting the drain near $1.34 million across five deprecated pools as the decentralized exchange promised treasury compensation.
The incident hit old liquidity pools tied to a program Raydium said was phased out in 2021. The team said no current users were affected and that the vulnerable pools could not be accessed through Raydium’s current user interface, software development kit or decentralized app.
Market snapshot: FXEmpire showed RAY near $0.57241 at 19:02 UTC on June 10, down 0.65% over 24 hours and 33.55% over 30 days, with a market value near $153.8 million and 24-hour trading volume near $21.0 million. The same page showed Solana near $63.72, down 2.31%, while Alternative.me printed 9, or Extreme Fear.
Raydium
RAYRaydium said in its update that the affected program had no impact on current users, active pools, concentrated liquidity market maker pools, constant-product market maker pools or newer AMM versions. The team also said treasury funds would fully compensate the drained assets while contributors review all mainnet programs.
The affected pools were Sollet USDT-RAY, Sollet ETH-RAY, SRM-RAY, USDC-RAY and RAY-SOL, according to Crypto Briefing. The outlet said the attacker removed about 150,177 RAY, 5,603 SOL and 893,700 USDC.
The first implication is practical: retired code can still hold real money. If an old contract remains live on a public chain, it can become a target even after users, interfaces and developers have moved on.
What remains unclear is whether any funds can be recovered from the attacker path. Public reports said roughly 810 ETH moved through Tornado Cash after the drain, making tracing and recovery harder even if the starting wallet is known.
Raydium Legacy AMM V3 Was Hit
The exploit centered on a program that belonged to an older version of Raydium’s Solana market infrastructure. Crypto Times reported that the legacy AMM V3 program had been inactive since 2021 and that the pools were left over from Raydium’s earlier Serum-linked design.
That matters because Raydium is not a marginal protocol on Solana. It is one of the chain’s better-known trading venues, so an incident involving dormant Raydium code can still attract search interest even when the active product is not directly affected.
The technical issue was described as insufficient validation of the liquidity provider mint address. In simpler terms, the attacker allegedly created a fraudulent LP mint, then used it to bypass checks that should have prevented unauthorized liquidity withdrawal.
Raydium’s update said newer mainnet programs use virtual supply mechanisms and stricter account verification that prevent this specific path. The team also described the flaw as self-contained, with no key compromise and no broader propagation risk disclosed in the materials reviewed.
The timing lands just days after Daily Crypto Briefs covered the Gnosis Pay module exploit, another case where specialized smart-account or protocol plumbing created risk that was not obvious to ordinary users.
Drained Pools Held RAY, SOL and USDC
The loss estimate is modest compared with the largest DeFi thefts, but the asset mix makes the story more clickable than a small long-tail hack. The affected balances included Raydium’s own token, Solana and USDC, not only obscure pool receipts.
Crypto Briefing said the five deprecated pools were tied to Sollet USDT-RAY, Sollet ETH-RAY, SRM-RAY, USDC-RAY and RAY-SOL. Those names point back to an older Solana DeFi era, when Serum order-book liquidity was central to Raydium’s design before Serum collapsed after the FTX failure.
The reported attacker address was 4WnPebowR4HHfumvNPaDjG6Pa5Hi1jxLm6xmmBq33QVk, according to Crypto Times. The outlet said tracking efforts were still underway, and the final recovery picture was not immediately clear.
Raydium’s treasury backstop reduces the user-loss question, but it does not erase the operational issue. If legacy pools can remain funded for years after deprecation, protocol teams need a retirement process that is closer to incident response than housekeeping.
Daily Crypto Briefs recently tracked a larger key-management failure in the Humanity Protocol H token exploit. Raydium’s case is different because it did not involve a disclosed admin-key compromise, but both incidents show how DeFi failures often sit outside the simple “audited code versus unaudited code” frame.
Treasury Cover Limits User Loss
Raydium’s strongest stabilizing detail is the compensation statement. The team said the treasury will provide full compensation for drained assets, which changes the immediate user impact from open-ended loss to reimbursement execution.
That is also why RAY’s price reaction was muted relative to the headline. FXEmpire’s market data showed RAY down less than 1% over 24 hours after the reports, even as the token remained down more than one-third over 30 days.
Fear & Greed Index
June 10, 2026The broader market backdrop is still weak. Extreme Fear can make small security events feel larger, especially on Solana, where traders are already watching whether consumer-payment headlines like the recent WSOP Solana rollout translate into real activity while SOL trades lower.
For Raydium, the next checkpoints are specific. Users should watch for a fuller post-mortem, confirmation of the compensation mechanics, a list of any remaining dormant programs that still hold value, and evidence that all mainnet programs have been reviewed for similar LP-mint validation issues.
The confirmed picture is narrow but important: old Raydium AMM code was drained, current Raydium products were not described as affected, and the treasury is expected to absorb the loss. The remaining test is whether the project can show that the same kind of dormant-contract risk has been removed before another forgotten pool becomes a live target.
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Primary sources and further reading
| Source | Title |
|---|---|
| | Raydium Infra update on X |
| | Crypto Briefing: Raydium legacy AMM V3 exploit |
| | Crypto Times: Raydium legacy pool hack |
| | FXEmpire: Raydium price and market data |
| | Alternative.me: Crypto Fear and Greed Index |
Fact-checked by: Daily Crypto Briefs Fact-Check Desk
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Frequently Asked Questions
What happened to Raydium?
Raydium said an attacker removed liquidity from its legacy AMM V3 program, which had been phased out in 2021 and was not accessible through the current Raydium interface.
How much was drained from Raydium's legacy pools?
Reports citing Raydium's update put the removed assets at about $1.34 million across five deprecated pools, including roughly 150,177 RAY, 5,603 SOL and 893,700 USDC.
Were current Raydium users affected?
Raydium said no current users, active pools, CLMM pools, CPMM pools or newer AMM programs were affected by the legacy AMM V3 exploit.
Will Raydium reimburse affected assets?
Raydium said the treasury will provide full compensation for the drained assets while core contributors conduct a security review of all mainnet programs.