radiant capital hack Archives - Coin Engineer https://coinengineer.net/blog/tag/radiant-capital-hack/ Btc, Coins, Pre-Sale, DeFi, NFT Thu, 17 Oct 2024 18:10:03 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://coinengineer.net/blog/wp-content/uploads/2024/04/cropped-Coin-Engineer-Logo-Favicon-2-32x32.png radiant capital hack Archives - Coin Engineer https://coinengineer.net/blog/tag/radiant-capital-hack/ 32 32 Radiant Capital Lost 51 Million Dollars Worth Of Asset https://coinengineer.net/blog/radiant-capital-lost-51-million-dollars-worth-of-asset/ https://coinengineer.net/blog/radiant-capital-lost-51-million-dollars-worth-of-asset/#respond Thu, 17 Oct 2024 14:00:15 +0000 https://coinengineer.net/blog/?p=31102 Radiant Capital, an omnichain money market, appears to have suffered a significant exploit, losing $51 million in assets across its BNB Chain and Arbitrum instances. The attack, which began on Radiant’s Arbitrum instance and later moved to BNB Chain, was identified through on-chain evidence and Web3 security firm Ancilia. The suspected exploiter’s wallet holds over

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]]> Radiant Capital, an omnichain money market, appears to have suffered a significant exploit, losing $51 million in assets across its BNB Chain and Arbitrum instances. The attack, which began on Radiant’s Arbitrum instance and later moved to BNB Chain, was identified through on-chain evidence and Web3 security firm Ancilia. The suspected exploiter’s wallet holds over $32 million in Arbitrum-based assets and $18 million on BNB Chain.

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The attack involved a vulnerability in Radiant’s smart contract, allowing unauthorized token transfers via the transferFrom function. Ancilia has urged users to revoke any approvals to Radiant contracts as a safety measure. The breach appears to have originated from a compromised multisig setup within Radiant, potentially due to phishing, a compromised device, or an insider attack.

Security researchers are working with the Radiant team to recover the stolen funds. This hack follows a previous incident earlier in the year where Radiant lost 1900 ETH (approximately $4.5 million) in a flash loan attack.

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