not so much as an exploit, but just a slightly broken game mechanic.
It seems that using a radarjammer makes the engagement range of pirates smaller for you.
You can easily destroy them while you stay out of this range, they'll do nothing and then die.
How to reproduce:
# make a ship with a radarjammer
# put yourself in god mode, type /initiate_wave -1 1
# notice the engagement range of isanths is extremely small when you enable your radarjammer
(make sure to re-activate the radarjammer, it disables when you're hit)
Perhaps just removing this mechanic completely would be for the best. Radarjammer could make lockable missiles act like dumb missiles maybe when fighting against AI but that should be it.
If you want completely immunity, a cloaker would be better.