Old Code Exploit Triggers Theft, Trust in Raydium Shaken

• • The daily chart notes a support structure break due to impulsive selling, while the 1-hour chart lies flat without absorption volume post-news.
• • Market sentiment plummeted sharply following an old code exploit resulting in a $1.34 million loss, triggering a user trust crisis.

Decentralized finance (DeFi) infrastructure security is back in the harsh spotlight. Cybersecurity reports in the past 24 hours revealed that a vulnerability in Raydium's old code lines was just exploited by hackers, causing losses of over $1.34 million. Although the loss amount is not massive for the Solana ecosystem's size, exploit news always acts as a fundamental poison triggering capital withdrawals by liquidity providers. Technically, retail panic is clearly illustrated. The daily chart prints a solid red candle piercing its main support line. On the 1-hour chart, the price is pressured at the $0.5806 entry point without any meaningful buy wall from smart money. This burden of uncertainty is projected to continue pressing the asset to seek a new balance point, targeting a bottom trough at $0.52 before panic subsides over the next 3 days.

Security exploits can trigger permanent Total Value Locked (TVL) migration to competing protocols. If the development team fails to provide swift mitigation and the price breaks below the $0.55 watch area, a structural downtrend will be confirmed.