Raydium AMM
Last changed 2026-10-27 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 61 → 52. Problems weighed by who is responsible: incidents the subject suffered −20, concerns that are not fraud −9.2, problems around the subject, caused by others −2.6; legitimacy credit long-running +10; accepted community evidence −1.4. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -9.2 |
| Incidents it suffered (e.g. hacks) | -20 |
| Problems around it, caused by others | -2.6 |
| Long-running | +10 |
| Accepted community evidence | -1.4 |
| Sum | 42 |
Score: 52/100 (kept between 0 and 100)
How scoring works →Summary
Raydium is a leading Solana-based automated market maker (AMM) and decentralized exchange (DEX) launched in February 2021 by a pseudonymous team. On December 16, 2022, a compromise of the protocol's admin private key enabled an attacker to drain approximately $4.4 million from eight liquidity pools; the stolen funds were subsequently laundered through Tornado Cash in January 2023. The team implemented a phased compensation plan and post-incident security upgrades, including migration of admin authority to a Squads multisig, but the incident exposed significant centralization risks that were not apparent prior to the exploit.
Connected Entities
8 entities · 60 linked investigations- AgJddD…GJwD→mentioned with→Raydium AMM(50%)
- 5ndLnE…HEPs→mentioned with→Raydium AMM(50%)
- Ethereum→mentioned with→Coinbase(60%)
- ZachXBT→mentioned with→Ethereum(70%)
- Raydium AMM→mentioned with→Coinbase(65%)
- Raydium AMM→mentioned with→Solana(80%)
- Raydium AMM→mentioned with→FixedFloat(70%)
- Raydium AMM→mentioned with→Ethereum(65%)
- Raydium AMM→mentioned with→ZachXBT(60%)
- Coinbase→mentioned with→ZachXBT(70%)
- + 4 more
Connected Through
6 shared actors · 629 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □Ethereumorganization
- □ZachXBTorganization
- □Solanaorganization
- ♦Coinbasetoken
Community submissions
- https://www.theblock.co/post/404304/raydium-dex-1-34-million-exploit-retired-amm-program-treasury-cover-losses(www.theblock.co)
“[Scout] Raydium disclosed on June 10, 2026 (a Wednesday) that an exploit targeting its legacy, retired AMM V3 program resulted in roughly $1.34 million in losses from a handful of inactive liquidity pools, including the RAY-SOL, USDC-RAY and SRM-RAY pairs; Raydium said all losses will be compensated by its treasury.”
— avoid-scout(unverified)
Timeline(9 events)
February 2021
Raydium AMM launched on Solana mainnet by pseudonymous founding team (AlphaRay, XRay, GammaRay).
BeinCrypto16 December 2022
Admin private key compromised, likely via trojan malware. Attacker drains ~$4.4M from eight AMM V4 liquidity pools using withdrawPNL and SetParams exploits. Patch deployed at 14:16 UTC same day.
Raydium Official Post-Mortem17 December 2022
Raydium removes exploited admin parameters from AMM V4 program and transfers remaining admin authority to Squads multisig.
Raydium Official Post-Mortem30 December 2022
DAO governance vote passes (5,598,814 approvals) authorizing compensation plan using DAO treasury and team-vested RAY tokens.
CertiK Exploit Analysis5 January 2023
Compensation claim portal opens for Phase 1 affected liquidity providers.
Raydium Compensation Plan19 January 2023
Raydium exploiter deposits 1,774.5 ETH (~$2.7M) into sanctioned mixer Tornado Cash across 42 transactions, effectively laundering the stolen funds.
CoinDesk14 May 2023
Final extension of compensation claim portal closes. Compensation process concluded.
Raydium Docs — Claim Portal10 January 2024
Whitehat @riproprip discloses critical tick manipulation vulnerability in Raydium CLMM via Immunefi. No funds lost. $505,000 RAY bounty awarded.
Immunefi Bugfix Review21 April 2026
Coinbase discontinues RAY perpetual futures contracts as part of a 25-product review; RAY spot trading unaffected.
CoinMarketCap Latest UpdatesDecision Log
- slot 461965683 · hash AVb3PswsVZzCrmJ7hjwQoh4VJeQ6iHwhQeSfWR7PHFoF
- slot 457612197 · hash 61B1EgCvvgC5oTaPc3meBFo96BcWNwAo3KNrEwe3KyX2
- slot 445508820 · hash 8K3qU6aW1GW3Tox6eFWN2hh6in5xNyskCvbicKAjaAyc
- slot 426514638 · hash CHNyVEdU6SBrfFLnKaPmYfbj5QTAb4wUDunYvEHNBnfF
- slot 426514636 · hash AQYFBujkhH9GK5RszRUSWpAF2u2HZYahp7UtbXGBef9r
- slot 422756727 · hash 3xpeUvuZCGmucgZPfRcWVEaPi6m68QdiE5Cxki37CWWd
This investigation is cryptographically anchored to the Solana blockchain (6 decisions). 13 of 14 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:45 AM
last updated: 10/27/2026, 6:05:37 AM
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