šØ **Breaking News in Crypto: Radiant Capital Hit by $50M Cyberattack!**
Radiant Capital, a blockchain lending protocol, suffered a massive $50 million loss on Wednesday due to a cyberattack. Security experts revealed that the attacker gained control by obtaining three private keys, allowing them to exploit the "transferFrom" function on BSC & ARB chains. This led to the draining of various user funds including $USDC, $WBNB, and $ETH.
- Radiant's multisig wallet with 11 signers was compromised.
- This is the second attack on Radiant this year, following a $4.5 million hack in January.
- The exact method of key sabotage remains unclear, but speculation points to a compromised front-end.
Radiant has paused markets on Base and Mainnet and is working with security firms for a resolution. Stay tuned for updates!
š¬ What are your thoughts on this latest hack? Share in the comments below!
