đ€Radiant Capital Hacked for Over $50 Million
â ïžRadiant Capital Confirms Radiant Lending Marketplace on Binance Chain and Arbitrum Has Been Hacked. The Project Calls on Users to Revoke Access to Smart Contracts to Avoid Further Spread of Damage.
đâđšRadiant is working with SEAL911, Hypernative, ZeroShadow, and Chainalysis to investigate the details of the incident. The project team will provide an update as soon as possible. Markets on Base and Mainnet are down until further notice.
đ« Previously, blockchain security firm Ancilia Inc. was the first to report suspicious activity on Radiant Capital's smart contract on BNB Chain. According to Ancilia, a list of on-chain transactions shows that hackers stole at least $16 million.
âłAssets Continue to Be Withdrawn from Radiant Pools on Ethereum Layer 2 Arbitrum. Hacken, a security firm that tracked the incident, said that approximately $50 million in digital assets were siphoned from various trading pools on Radiant, including pools holding USDT, USDC, and ARB.
âïžAccording to Arkham Intelligence data, the attack began at midnight on October 16 on Radiant's Arbitrum before moving to BNB Chain.
đ„Radiant Capital is a lending project that operates across multiple networks. Radiant's goal is to become the first Omnichain Money Market in the crypto market.
đRadiant uses a native utility token called RDNT, which allows users to earn rewards for interacting, providing utility to the platform, and paying fees. Following the news of the platform being hacked, RDNT quickly dropped more than 9% from $0.0719 to $0.06653.
