PANews reported on October 17 that according to Cointelegraph, Radiant Capital and two cybersecurity companies disclosed that Radiant Capital has suspended its lending market after a cybersecurity breach of more than $50 million occurred on BNB Chain and Arbitrum.
Web3 cybersecurity company De.Fi Antivirus said on the X platform: "Using the 'transferFrom' function on the BSC and ARB chains, the attacker attacked the Radiant Capital contract and stole users' funds, including USDC, WBNB, ETH, etc. The attack resulted in the theft of approximately $58 million in funds." This is similar to the estimate of another cybersecurity company Ancilia Inc., which estimated the loss to be approximately $50 million. Radiant is controlled by a multi-signature wallet, and the attacker controlled the private keys of multiple signers and then controlled multiple smart contracts.
“We are aware of issues with the Radiant lending markets on BNB Chain and Arbitrum,” Radiant said in a post on the X platform. “We are working with SEAL911, Hypernative, ZeroShadow, and Chainalysis and will provide updates as soon as possible. Markets on Base and Mainnet are temporarily suspended until further notice.”
