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Blockchain forensics firm PeckShield discovered that wallets belonging to exploiter Radiant Capital transferred funds of $52 million to the ethereum network.
In an October 24
According to PeckShield x.com/PeckShieldAlert/status/1849280590996213890″ target=”_blank”>dataThe hacker obtained a total of 20,500 Ether or a value of approximately $52 million.
On October 16, DeFi lender Radiant Capital suffered losses of up to more than $50 million due to a malware attack that allowed hackers to exploit Radiant Capital's Arbitrum chain funds.
According to information in the post-mortem report, the attackers compromised the hardware wallets of at least three Radiant developers through a sophisticated malware injection that they called “one of the most sophisticated hacks ever recorded in DeFi.”
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Often, criminals move stolen funds to the ethereum network and launder them through a crypto mixer to make it difficult to recover the stolen funds. The same method has been used in other cryptocurrency hacks and exploits this year, such as WazirX, CoinStats, Orbit Chain, among others.
On October 23, Radiant Capital reminded users to protect their wallets by revoking approvals for affected contracts on revoke.cash. In the post, Radiant Capital shared a list of affected contracts for users to revoke access.
“This is not optional – take a minute to protect your assets by visiting revoke.cash and removing any permissions to prevent further losses.” Radiant Capital said in its x.com/RDNTCapital/status/1848809006976143397″ target=”_blank”>mail.
In addition, the decentralized finance project built on LayerZero assured that it remains “fully committed” to tracking and freezing the stolen funds by collaborating with security experts and law enforcement authorities on the case.
According to data from PeckShield, throughout September 2024, several cryptocurrency players suffered losses worth more than $120 million due to cryptocurrency hacks. Some notable hacks and exploits involved platforms like BingX, Penpie, and Indodax.
