Radiant Capital Hit by $50 Million Blockchain Exploit

A sophisticated cyberattack compromised Radiant's blockchain contracts, marking the second major breach this year.

Radiant Capital lost over $50 million due to an exploit involving its BNB Chain and Arbitrum instances.
Attackers gained control by obtaining private keys from Radiant's multisig wallet, allowing them to manipulate smart contracts.
Security firms identified the use of a 'transferFrom' function to drain assets like USDC, WBNB, and ETH from users' accounts.
Radiant Capital has paused operations on Base and Mainnet and advised users to revoke smart contract permissions.
This incident follows a previous $4.5 million loss in January from a different exploit on the Arbitrum network.