Solana (SOL) is also embroiled in a hacking issue on one of its biggest DeFi protocols after fighting to recover from the FTX crisis that has rocked the crypto market.
An individual was identified as having hacked Raydium's SOL DeFi protocol and acted to drain Raydium's liquidity pools, where in general the protocol allows users to obtain tokens through the exchange of a digital asset.
Although what happened next remains unclear, the hacker reportedly stole $1.6 million worth of SOL and around $2.2 million worth of digital assets via the Raydium protocol owner's private key.
The hacking activity happened after several wallets owned by FTX were drained of around $650 million following the destruction of the crypto exchange company last month.
It would also like to be informed that Raydium including other protocols has decided to cooperate with Solana Serum following rumors that their co-founder is the former Chief Executive Officer (CEO) of FTX, Sam Bankman-Fried.
That streak, Raydium wants to start a new project unrelated to FTX even though the Serum has been integrated with every major SOL DeFi project.
Among the effects SOL faced due to the hack was when its community rushed to exit Raydium which is one of SOL's largest decentralized financial protocols.
Apart from that, the price of the Raydium token (RAY) also received a boost with a deposit of over 8% in the $0.15 zone while the total value locked in its protocol decreased by 27% at the level of $34.73 million.
