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Radiant Capital Suffers Over $50M Heist in Latest Blockchain Attack
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Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.
Radiant Capital, a Binance-backed blockchain protocol specializing in cross-chain lending, was hacked on Wednesday, with attackers stealing over $50m.
According to Web3 security firm De. Fi Antivirus, the attacker(s) gained control of three out of eleven private keys needed for protocol upgrades, enabling them to alter smart contracts on both the Arbitrum and Binance Smart Chain (BSC) networks.
The hackers stole various cryptocurrencies, including USDC, ETH and BNB. They used an exploit identified as ‘transferFrom,’ allowing them to transfer tokens directly from user accounts into their own.
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